Federal Court in Florida Orders James Burbage, Frank Gaudino, and Their Companies to Pay over $5 Million in Restitution and Penalties to Settle Charges Related to Illegal, Off-Exchange Precious Metals Transactions Settlement

CFTC release 6850-14 · 2014-02-06 · view on cftc.gov ↗

Key facts

Release number: 6850-14
Release date: 2014-02-06
Type: Settlement
Primary source: https://www.cftc.gov/PressRoom/PressReleases/6850-14

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.