CFTC Charges Patrick Rakotonanahary and Cyber Market Group LLC with Operating a Multi-Million Dollar Ponzi Scheme in Hawaii and Elsewhere in the U.S. Ponzi scheme

CFTC release 5797-10 · 2010-03-17 · view on cftc.gov ↗

Key facts

Release number: 5797-10
Release date: 2010-03-17
Type: Ponzi scheme
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5797-10

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.