CFTC Charges Georgia Man with Operating a Multi-Million Dollar Forex Ponzi Scheme Ponzi scheme

CFTC release 5674-09 · 2009-07-10 · view on cftc.gov ↗

Key facts

Release number
5674-09
Release date
2009-07-10
Type
Ponzi scheme
Primary source
https://www.cftc.gov/PressRoom/PressReleases/5674-09

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.