Federal Court Freezes Assets of Texas Man Larry Benny Groover, Charged by the CFTC with Operating a Foreign Currency Ponzi Scheme and Misappropriating Customer Funds Ponzi scheme

CFTC release 5986-11 · 2011-02-18 · view on cftc.gov ↗

Key facts

Release number: 5986-11
Release date: 2011-02-18
Type: Ponzi scheme
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5986-11

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.