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

> CFTC release 5448-08 · 2008-02-08 · **Fraud** · ENFORCEMENT

## Key facts

- **Release number:** 5448-08
- **Release date:** 2008-02-08
- **Type:** Fraud
- **Title:** Illinois Resident Edward R. Velazquez and His Three “V-Tek” Companies Sanctioned Over $11.6 Million in Settlement of CFTC Commodity Fraud Action
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/5448-08

## 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 5448-08, "Illinois Resident Edward R. Velazquez and His Three “V-Tek” Companies Sanctioned Over $11.6 Million in Settlement of CFTC Commodity Fraud Action", 2008-02-08. Retrieved via AI Analytics 2026-05-19 from https://api.ai-analytics.org/cftc-action/5448-08.

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