CFTC FILES AND SETTLES FRAUD ACTION AGAINST COMMODITY POOL OPERATOR VERAS INVESTMENT PARTNERS, LLC; CFTC Finds that Veras, Along with Owners and Managing Members James McBride and Kevin Larson, Failed to Disclose Illegal and Deceptive Trading Practices to Pool Participants; Order Imposes $500,000 Penalty on Veras, McBride, and Larson, and Revokes Their Registrations Fraud

CFTC release 5149-05 · 2005-12-22 · view on cftc.gov ↗

Key facts

Release number: 5149-05
Release date: 2005-12-22
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5149-05

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.