Federal Court Enters $2.2 Million Default Judgment Order against Florida-based Global Precious Metals Trading Company and its Owner, Michael Ghaemi, for Operating a Fraudulent Off-Exchange Precious Metals Scheme Fraud

CFTC release 6670-13 · 2013-08-23 · view on cftc.gov ↗

Key facts

Release number: 6670-13
Release date: 2013-08-23
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/6670-13

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.