CFTC Sues Michael Alcocer and His Company, InovaTrade, Inc., for Foreign Currency Fraud and Misappropriation Fraud

Key facts

Release number

6532-13

Release date

2013-03-15

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/6532-13

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.