CFTC Charges Florida Resident Phillip Milton and Virginia Residents Gregory and William Center with Operating a $28 Million Ponzi Scheme Ponzi scheme

CFTC release 5848-10 · 2010-07-07 · view on cftc.gov ↗

Key facts

Release number
5848-10
Release date
2010-07-07
Type
Ponzi scheme
Primary source
https://www.cftc.gov/PressRoom/PressReleases/5848-10

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.