# Virginia Federal Court Orders Ronald W. Smith, Jr., Doing Business as Safeguard 3030 Investment Club, to Pay More than $3 Million in Forex Ponzi Scheme

> CFTC release 6235-12 · 2012-04-19 · **Ponzi scheme** · ENFORCEMENT

## Key facts

- **Release number:** 6235-12
- **Release date:** 2012-04-19
- **Type:** Ponzi scheme
- **Title:** Virginia Federal Court Orders Ronald W. Smith, Jr., Doing Business as Safeguard 3030 Investment Club, to Pay More than $3 Million in Forex Ponzi Scheme
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/6235-12

## 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 6235-12, "Virginia Federal Court Orders Ronald W. Smith, Jr., Doing Business as Safeguard 3030 Investment Club, to Pay More than $3 Million in Forex Ponzi Scheme", 2012-04-19. Retrieved via AI Analytics 2026-07-10 from https://api.ai-analytics.org/cftc-action/6235-12.

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