CFTC Charges Australian Resident Senen Pousa, U.S. Resident Joel Friant, and Their Company, Investment Intelligence Corp., with Operating a Fraudulent $53 Million Worldwide Off-Exchange Forex Scheme; Michael Dillard and Elevation Group Also Charged Fraud

CFTC release 6353-12 · 2012-09-20 · view on cftc.gov ↗

Key facts

Release number: 6353-12
Release date: 2012-09-20
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/6353-12

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.