# CFTC Forex Boiler Room Fraud Action Nets $3.4 Million in Sanctions Against “Richmond Global” and Vincent Danio; Defrauded Customers Lost More Than $1.7 Million Trading Forex

> CFTC release 5429-07 · 2007-12-29 · **Fraud** · ENFORCEMENT

## Key facts

- **Release number:** 5429-07
- **Release date:** 2007-12-29
- **Type:** Fraud
- **Title:** CFTC Forex Boiler Room Fraud Action Nets $3.4 Million in Sanctions Against “Richmond Global” and Vincent Danio; Defrauded Customers Lost More Than $1.7 Million Trading Forex
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/5429-07

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 5429-07, "CFTC Forex Boiler Room Fraud Action Nets $3.4 Million in Sanctions Against “Richmond Global” and Vincent Danio; Defrauded Customers Lost More Than $1.7 Million Trading Forex", 2007-12-29. Retrieved via AI Analytics 2026-05-19 from https://api.ai-analytics.org/cftc-action/5429-07.

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