CFTC Charges Global Precious Metals Trading Company and Michael Ghaemi of Coral Gables, Florida with Fraudulent Precious Metals Scheme Fraud

Key facts

Release number

6587-13

Release date

2013-05-13

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/6587-13

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.