CFTC Charges Minnesota Resident Charles “Chuck” E. Hays and His Company, Crossfire Trading, LLC, with Running a $5.5 Million Ponzi Scheme Ponzi scheme

CFTC release 5608-09 · 2009-02-06 · view on cftc.gov ↗

Key facts

Release number
5608-09
Release date
2009-02-06
Type
Ponzi scheme
Primary source
https://www.cftc.gov/PressRoom/PressReleases/5608-09

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.