Florida Federal Court Orders Sarasota Resident Beau Diamond and his Company, Diamond Ventures LLC, to Pay More than $4 Million in Restitution and Civil Monetary Penalties in Connection with Multi-Million Dollar Forex Fraud Fraud

Key facts

Release number

5971-11

Release date

2011-01-26

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/5971-11

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.