Federal Court Orders Oscar Hernandez and His Companies to Pay $1.4 Million in Penalties and Bars Him from the Commodities Industry for Operating a Commodity Pool Ponzi Scheme Ponzi scheme

Key facts

Release number

6374-12

Release date

2012-10-02

Type

Ponzi scheme

Primary source

https://www.cftc.gov/PressRoom/PressReleases/6374-12

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.