CFTC Orders William J. Hionas and his Florida Firms, Pan American Metals of Miami and Pan American Metals of Miami Beach, to Pay Approximately $4.7 Million in Restitution and a Monetary Penalty for Fraudulent Off-Exchange Transactions in Precious Metals Fraud

CFTC release 6653-13 · 2013-07-30 · view on cftc.gov ↗

Key facts

Release number: 6653-13
Release date: 2013-07-30
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/6653-13

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.