CFTC Files Anti-Fraud Action against Idahoan Michael Justin Hoopes for Operating a Multi-Million Dollar Ponzi Scheme that Defrauded Mostly Idaho Residents Fraud

CFTC release 6128-11 · 2011-10-27 · view on cftc.gov ↗

Key facts

Release number
6128-11
Release date
2011-10-27
Type
Fraud
Primary source
https://www.cftc.gov/PressRoom/PressReleases/6128-11

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.