Virginia Man & His California Corporation Ordered to Pay Nearly $12 Million in Penalties for Fraudulent Commodity Trading System Sold to More than 15,000 Customers Fraud

CFTC release 5305-07 · 2007-03-22 · view on cftc.gov ↗

Key facts

Release number: 5305-07
Release date: 2007-03-22
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5305-07

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.