CFTC Settles Foreign Currency (Forex) Fraud Action Resulting in Over $2.5 Million in Civil Penalties Fraud

Key facts

Release number

5227-06

Release date

2006-09-15

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/5227-06

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.