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

> CFTC release 5848-10 · 2010-07-07 · **Ponzi scheme** · ENFORCEMENT

## Key facts

- **Release number:** 5848-10
- **Release date:** 2010-07-07
- **Type:** Ponzi scheme
- **Title:** CFTC Charges Florida Resident Phillip Milton and Virginia Residents Gregory and William Center with Operating a $28 Million Ponzi Scheme
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/5848-10

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 5848-10, "CFTC Charges Florida Resident Phillip Milton and Virginia Residents Gregory and William Center with Operating a $28 Million Ponzi Scheme", 2010-07-07. Retrieved via AI Analytics 2026-06-07 from https://api.ai-analytics.org/cftc-action/5848-10.

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