CFTC Charges Juvenal Machado and Florida-based Invers Forex, LLC with Defrauding Foreign Currency Customers of Almost $800,000 in Ponzi Scheme Ponzi scheme

Key facts

Release number

6057-11

Release date

2011-06-25

Type

Ponzi scheme

Primary source

https://www.cftc.gov/PressRoom/PressReleases/6057-11

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.