CFTC Charges Pennsylvania-based New Century Investment Management LLC and Ward Onsa of Marco Island, Florida, with Operating a Commodity Pool Ponzi Scheme Ponzi scheme

CFTC release 6016-11 · 2011-04-07 · view on cftc.gov ↗

Key facts

Release number: 6016-11
Release date: 2011-04-07
Type: Ponzi scheme
Primary source: https://www.cftc.gov/PressRoom/PressReleases/6016-11

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.