Federal Court Orders CFTC Defendant Larry Benny Groover to Pay $2.69 Million for Defrauding Customers in Forex Ponzi Scheme Ponzi scheme

CFTC release 6165-12 · 2012-01-06 · view on cftc.gov ↗

Key facts

Release number
6165-12
Release date
2012-01-06
Type
Ponzi scheme
Primary source
https://www.cftc.gov/PressRoom/PressReleases/6165-12

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.