CFTC Obtains Asset Freeze against Keith Simmons, Deanna Salazar, Bryan Coats, Jonathan Davey and Their Companies, Charged in $35 Million Foreign Currency Ponzi Scheme Ponzi scheme

Key facts

Release number

5985-11

Release date

2011-02-17

Type

Ponzi scheme

Primary source

https://www.cftc.gov/PressRoom/PressReleases/5985-11

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.