Federal Court in New York Orders Thomas Qualls and His Company, International Foreign Currency, to Pay More than $4.6 Million in Restitution and Penalties in Connection with Off-Exchange Forex Futures Fraud Fraud

CFTC release 6251-12 · 2012-05-04 · view on cftc.gov ↗

Key facts

Release number: 6251-12
Release date: 2012-05-04
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/6251-12

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.