CFTC Charges Jacob Juma Omukwe and his Companies with Solicitation Fraud and Misappropriation in $3 Million Foreign Currency Scheme Fraud

Key facts

Release number

5997-11

Release date

2011-03-10

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/5997-11

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.