Utah-Based 4NExchange and Two Individuals Ordered to Pay $720,000 in Penalties to Resolve CFTC Charges of Fraud and Misappropriation in Foreign Currency Scam Fraud

CFTC release 5572-08 · 2008-11-20 · view on cftc.gov ↗

Key facts

Release number: 5572-08
Release date: 2008-11-20
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5572-08

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.