CFTC Charges South Carolina Man Ronald E. Satterfield, His Two Companies and Michigan Resident Nicholas Bos with Operating a Multi-Million Dollar Foreign Currency Ponzi Scheme in Four States Ponzi scheme

CFTC release 5935-10 · 2010-11-16 · view on cftc.gov ↗

Key facts

Release number: 5935-10
Release date: 2010-11-16
Type: Ponzi scheme
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5935-10

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.