# Nacogdoches, Texas Businessman George D. Hudgins Ordered to Pay Approximately $86 Million for Defrauding 230 Investors in a “Ponzi” Scheme Involving Commodity Futures and Options Contracts

> CFTC release 5641-09 · 2009-04-03 · **Ponzi scheme** · ENFORCEMENT

## Key facts

- **Release number:** 5641-09
- **Release date:** 2009-04-03
- **Type:** Ponzi scheme
- **Title:** Nacogdoches, Texas Businessman George D. Hudgins Ordered to Pay Approximately $86 Million for Defrauding 230 Investors in a “Ponzi” Scheme Involving Commodity Futures and Options Contracts
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/5641-09

## 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 5641-09, "Nacogdoches, Texas Businessman George D. Hudgins Ordered to Pay Approximately $86 Million for Defrauding 230 Investors in a “Ponzi” Scheme Involving Commodity Futures and Options Contracts", 2009-04-03. Retrieved via AI Analytics 2026-07-08 from https://api.ai-analytics.org/cftc-action/5641-09.

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