Oklahoma City Chinese Community Targeted In Multi-Million Dollar Commodity Futures Ponzi Scheme Operated by South Carolina Resident Kenneth Lee and Oklahoma Resident Simon Yang and their Companies Ponzi scheme

Key facts

Release number

5758-09

Release date

2009-11-26

Type

Ponzi scheme

Primary source

https://www.cftc.gov/PressRoom/PressReleases/5758-09

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.