CFTC Charges Florida Resident Michael J. Riolo and His Two Companies with Fraud in Alleged Multi-Million Dollar Foreign Currency Scam Fraud

CFTC release 5659-09 · 2009-05-22 · view on cftc.gov ↗

Key facts

Release number
5659-09
Release date
2009-05-22
Type
Fraud
Primary source
https://www.cftc.gov/PressRoom/PressReleases/5659-09

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.