CFTC CHARGES FLORIDA BUSINESS INTERNATIONAL CURRENCY EXCHANGE, INC. AND ITS PRINCIPALS WITH $900,000 FOREIGN CURRENCY OPTIONS SCAM; CFTC Alleges that International Currency Exchange, Inc., Michael Cottec, John Aucella, and Eugene Aucella Fraudulently Solicited Customers; Worldwide Clearing, LLC Also Charged Fraud

CFTC release 5131-05 · 2005-10-18 · view on cftc.gov ↗

Key facts

Release number: 5131-05
Release date: 2005-10-18
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5131-05

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.