Federal Court in Florida Orders Defendants Philip Milton and Trade, LLC, and Four Relief Defendants to Pay Millions in Restitution, Disgorgement, and Civil Monetary Penalties for Operating a $28.4 Million Ponzi Scheme Ponzi scheme

CFTC release 6590-13 · 2013-05-17 · view on cftc.gov ↗

Key facts

Release number: 6590-13
Release date: 2013-05-17
Type: Ponzi scheme
Primary source: https://www.cftc.gov/PressRoom/PressReleases/6590-13

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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.