CFTC Charges Colorado-based Flint-McClung Capital LLC and Shawon McClung with Fraud and Misappropriation in $1.9 Million Off-Exchange Foreign Currency Ponzi Scheme Fraud

CFTC release 6063-11 · 2011-06-30 · view on cftc.gov ↗

Key facts

Release number: 6063-11
Release date: 2011-06-30
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/6063-11

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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.