Federal Court Orders Colorado Defendants Flint-McClung Capital LLC and Shawon McClung to Pay over $6 Million in CFTC Action Charging Them with Running Forex Ponzi Scheme Ponzi scheme

CFTC release 6236-12 · 2012-04-19 · view on cftc.gov ↗

Key facts

Release number: 6236-12
Release date: 2012-04-19
Type: Ponzi scheme
Primary source: https://www.cftc.gov/PressRoom/PressReleases/6236-12

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.