# 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

> CFTC release 6353-12 · 2012-09-20 · **Fraud** · ENFORCEMENT

## Key facts

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

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 6353-12, "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", 2012-09-20. Retrieved via AI Analytics 2026-07-03 from https://api.ai-analytics.org/cftc-action/6353-12.

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