Federal Court in California Orders Ruben Gonzalez, Jose Naranjo, and their Company to Pay over $8 Million for Operating Ponzi Scheme and Misappropriation Ponzi scheme

CFTC release 6086-11 · 2011-07-29 · view on cftc.gov ↗

Key facts

Release number: 6086-11
Release date: 2011-07-29
Type: Ponzi scheme
Primary source: https://www.cftc.gov/PressRoom/PressReleases/6086-11

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.