U.S. Attorney Follows CFTC Civil Complaint with Filing of a Criminal Information Against George D. Hudgins of Nacogdoches, Texas for Operating a Commodities Ponzi Scheme Ponzi scheme

CFTC release 5523-08 · 2008-07-29 · view on cftc.gov ↗

Key facts

Release number: 5523-08
Release date: 2008-07-29
Type: Ponzi scheme
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5523-08

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.