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

> CFTC release 6086-11 · 2011-07-29 · **Ponzi scheme** · ENFORCEMENT

## Key facts

- **Release number:** 6086-11
- **Release date:** 2011-07-29
- **Type:** Ponzi scheme
- **Title:** Federal Court in California Orders Ruben Gonzalez, Jose Naranjo, and their Company to Pay over $8 Million for Operating Ponzi Scheme and Misappropriation
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/6086-11

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 6086-11, "Federal Court in California Orders Ruben Gonzalez, Jose Naranjo, and their Company to Pay over $8 Million for Operating Ponzi Scheme and Misappropriation", 2011-07-29. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/cftc-action/6086-11.

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