CFTC Charges California-Based SNC Asset Management, Inc., SNC Investments Inc., CEO Peter Son, and CFO Jin K. Chung in an $85 Million Forex Ponzi Scam Ponzi scheme

CFTC release 5666-09 · 2009-06-11 · view on cftc.gov ↗

Key facts

Release number: 5666-09
Release date: 2009-06-11
Type: Ponzi scheme
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5666-09

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.