# Federal Court Orders Moroccan National and Former Citigroup Trader Otmane El Rhazi to Pay Over $1.49 Million for Unlawful Trading and Misappropriation from a Citibank, N.A. Proprietary Account

> CFTC release 6089-11 · 2011-08-09 · **Other enforcement** · ENFORCEMENT

## Key facts

- **Release number:** 6089-11
- **Release date:** 2011-08-09
- **Type:** Other enforcement
- **Title:** Federal Court Orders Moroccan National and Former Citigroup Trader Otmane El Rhazi to Pay Over $1.49 Million for Unlawful Trading and Misappropriation from a Citibank, N.A. Proprietary Account
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/6089-11

## 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 6089-11, "Federal Court Orders Moroccan National and Former Citigroup Trader Otmane El Rhazi to Pay Over $1.49 Million for Unlawful Trading and Misappropriation from a Citibank, N.A. Proprietary Account", 2011-08-09. Retrieved via AI Analytics 2026-07-06 from https://api.ai-analytics.org/cftc-action/6089-11.

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