Federal Court in Texas Orders Jeremiah C. Yancy and His Company to Pay More than $2 Million for Foreign Currency Ponzi Scheme and Misappropriation Ponzi scheme

Key facts

Release number

6077-11

Release date

2011-07-22

Type

Ponzi scheme

Primary source

https://www.cftc.gov/PressRoom/PressReleases/6077-11

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.