CFTC Charges Texas Resident Willie L. Cloud, Jr. and His Investment Company, C & R Financial, with Operating a Foreign Currency Ponzi Scheme Ponzi scheme

CFTC release 5791-10 · 2010-03-10 · view on cftc.gov ↗

Key facts

Release number
5791-10
Release date
2010-03-10
Type
Ponzi scheme
Primary source
https://www.cftc.gov/PressRoom/PressReleases/5791-10

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.