Federal Court Orders California Man David Michael Kogan and His Company, First Capitol Futures Group, to Pay More than $20.3 Million in CFTC Commodity Options Fraud Action Fraud

Key facts

Release number

5790-10

Release date

2010-03-10

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/5790-10

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.