CFTC Obtains Default Judgment and Permanent Injunction against Florida Resident David L. Ortiz and His Companies for Defrauding Customers in Off-Exchange Foreign Currency Scam Court judgment

Key facts

Release number

6069-11

Release date

2011-07-13

Type

Court judgment

Primary source

https://www.cftc.gov/PressRoom/PressReleases/6069-11

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.