California Federal District Court Imposes Restitution of $13.8 Million and Penalties of $1.5 Million Against Robert Joseph Beasley and Longboat Global Funds Management, LLC in Hedge Fund Fraud Action Brought by the Commodity Futures Trading Commission Fraud

CFTC release 5389-07 · 2007-09-27 · view on cftc.gov ↗

Key facts

Release number: 5389-07
Release date: 2007-09-27
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5389-07

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.