CFTC Charges Bostonian David Prescott with Forex Pool Fraud Fraud

CFTC release 6581-13 · 2013-05-07 · view on cftc.gov ↗

Key facts

Release number
6581-13
Release date
2013-05-07
Type
Fraud
Primary source
https://www.cftc.gov/PressRoom/PressReleases/6581-13

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.