CFTC Charges Two California Men, Ruben Gonzalez and Jose Naranjo, and Their Company, New Golden Investment Group, LLC, with Running a Multi-Million Dollar Ponzi Scheme Ponzi scheme

CFTC release 5828-10 · 2010-05-25 · view on cftc.gov ↗

Key facts

Release number: 5828-10
Release date: 2010-05-25
Type: Ponzi scheme
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5828-10

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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.