CFTC Charges California Residents Robert Cannone, Thomas Breen, and Francis Franco and Their Company, National Equities Holdings, Inc. with $1.4 Million Commodity Pool Fraud Fraud

CFTC release 6142-11 · 2011-11-17 · view on cftc.gov ↗

Key facts

Release number: 6142-11
Release date: 2011-11-17
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/6142-11

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.