Illinois Resident Edward R. Velazquez and His Three “V-Tek” Companies Sanctioned Over $11.6 Million in Settlement of CFTC Commodity Fraud Action Fraud

CFTC release 5448-08 · 2008-02-08 · view on cftc.gov ↗

Key facts

Release number
5448-08
Release date
2008-02-08
Type
Fraud
Primary source
https://www.cftc.gov/PressRoom/PressReleases/5448-08

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.