# 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

> CFTC release 5666-09 · 2009-06-11 · **Ponzi scheme** · ENFORCEMENT

## Key facts

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

## 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 5666-09, "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", 2009-06-11. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/cftc-action/5666-09.

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