Federal Court in New Jersey Orders Victor Eugene Cilli and His Company, Progressive Investment Funds LLC, to Pay over $700,000 in Restitution and Penalty in Commodity Pool Ponzi Scheme Ponzi scheme

CFTC release 6267-12 · 2012-05-31 · view on cftc.gov ↗

Key facts

Release number: 6267-12
Release date: 2012-05-31
Type: Ponzi scheme
Primary source: https://www.cftc.gov/PressRoom/PressReleases/6267-12

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.