CFTC Charges Michigan Man Jeffrey L. Groendyke with Operating a Foreign Currency Ponzi Scheme and Misappropriating Customer Funds Ponzi scheme

CFTC release 6034-11 · 2011-05-05 · view on cftc.gov ↗

Key facts

Release number
6034-11
Release date
2011-05-05
Type
Ponzi scheme
Primary source
https://www.cftc.gov/PressRoom/PressReleases/6034-11

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.