Federal Court in Idaho Orders Michael Justin Hoopes to Pay over $11.8 Million for Operating a Ponzi Scheme Ponzi scheme

CFTC release 6321-12 · 2012-07-31 · view on cftc.gov ↗

Key facts

Release number
6321-12
Release date
2012-07-31
Type
Ponzi scheme
Primary source
https://www.cftc.gov/PressRoom/PressReleases/6321-12

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.