# U.S. District Court Orders Texas Man Willie Lee Cloud, Jr. and his Company, C & R Financial, Inc., to Pay More than $5.35 Million in Restitution and a Civil Monetary Penalty for Operating a Foreign Currency Ponzi Scheme

> CFTC release 6012-11 · 2011-03-30 · **Ponzi scheme** · ENFORCEMENT

## Key facts

- **Release number:** 6012-11
- **Release date:** 2011-03-30
- **Type:** Ponzi scheme
- **Title:** U.S. District Court Orders Texas Man Willie Lee Cloud, Jr. and his Company, C & R Financial, Inc., to Pay More than $5.35 Million in Restitution and a Civil Monetary Penalty for Operating a Foreign Currency Ponzi Scheme
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/6012-11

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 6012-11, "U.S. District Court Orders Texas Man Willie Lee Cloud, Jr. and his Company, C & R Financial, Inc., to Pay More than $5.35 Million in Restitution and a Civil Monetary Penalty for Operating a Foreign Currency Ponzi Scheme", 2011-03-30. Retrieved via AI Analytics 2026-07-01 from https://api.ai-analytics.org/cftc-action/6012-11.

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