CFTC CHARGES FLORIDA FOREIGN CURRENCY FIRM PRESIDENTIAL FX, INC. AND TWO EMPLOYEES WITH FRAUD; CFTC Alleges That Firm and Employee Joseph Marchiano Fraudulently Solicited Customers to Trade Foreign Currency Options; Adam León is Charged as a Controlling Person of Presidential Fraud

CFTC release 5102-05 · 2005-07-29 · view on cftc.gov ↗

Key facts

Release number: 5102-05
Release date: 2005-07-29
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5102-05

About CFTC enforcement

The CFTC charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and commodity-pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension. Crypto-asset cases have been a major share since 2019.