Michigan Federal Court Orders Jeffrey L. Groendyke and JG Forex Fund to Pay over $1.4 Million for Operating a Forex Ponzi Scheme Ponzi scheme

CFTC release 6160-11 · 2011-12-20 · view on cftc.gov ↗

Key facts

Release number
6160-11
Release date
2011-12-20
Type
Ponzi scheme
Primary source
https://www.cftc.gov/PressRoom/PressReleases/6160-11

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.