CFTC BRINGS FRAUD CHARGES AGAINST FLORIDA FATHER AND SON, JACK AND CHRIS SMITHERS; CFTC Alleges That Jack and Chris Smithers, and Their Company, Prosperity Consultants, Inc., Fraudulently Solicited Customers to Trade Commodity Futures Contracts; Chris Smithers Also Charged With Breach of Prior Injunction Fraud

CFTC release 5104-05 · 2005-08-02 · view on cftc.gov ↗

Key facts

Release number: 5104-05
Release date: 2005-08-02
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5104-05

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.