# 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

> CFTC release 5102-05 · 2005-07-29 · **Fraud** · ENFORCEMENT

## Key facts

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

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 5102-05, "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", 2005-07-29. Retrieved via AI Analytics 2026-07-19 from https://api.ai-analytics.org/cftc-action/5102-05.

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