CFTC Charges Sidney J. Charles, Jr. and his Maryland-based Company, The Borrowing Station, LLC, in Forex Ponzi Scheme Ponzi scheme

CFTC release 6247-12 · 2012-05-02 · view on cftc.gov ↗

Key facts

Release number
6247-12
Release date
2012-05-02
Type
Ponzi scheme
Primary source
https://www.cftc.gov/PressRoom/PressReleases/6247-12

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.