# Federal Court in Colorado Orders Michael Gale to Pay More than $1.2 Million to Settle Fraud Charges in CFTC Enforcement Action

> CFTC release 6621-13 · 2013-06-27 · **Fraud** · ENFORCEMENT

## Key facts

- **Release number:** 6621-13
- **Release date:** 2013-06-27
- **Type:** Fraud
- **Title:** Federal Court in Colorado Orders Michael Gale to Pay More than $1.2 Million to Settle Fraud Charges in CFTC Enforcement Action
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/6621-13

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 6621-13, "Federal Court in Colorado Orders Michael Gale to Pay More than $1.2 Million to Settle Fraud Charges in CFTC Enforcement Action", 2013-06-27. Retrieved via AI Analytics 2026-07-23 from https://api.ai-analytics.org/cftc-action/6621-13.

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