CFTC Orders San Gabriel, California Resident David Kaup and His Companies to Pay over $1.89 Million in Restitution and Penalties to Settle Forex Fraud and Misappropriation Charges Fraud

Key facts

Release number

6399-12

Release date

2012-10-24

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/6399-12

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.