Federal Court Enters Preliminary Injunctions Against South Carolina Defendant Ronald E. Satterfield, His Companies and Michigan Resident Nicholas Bos, Charged with Operating a Multi-Million Dollar Foreign Currency Ponzi Scheme Ponzi scheme

Key facts

Release number

5938-10

Release date

2010-11-24

Type

Ponzi scheme

Primary source

https://www.cftc.gov/PressRoom/PressReleases/5938-10

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.