An Ohio Federal Court Rules against Defendants in CFTC Fraud Action and Orders Patrick Cole and Global Strategic Marketing, Inc. to Pay over $2.2 Million in Sanctions in Connection with Foreign Currency Ponzi Scheme Fraud

CFTC release 6887-14 · 2014-03-22 · view on cftc.gov ↗

Key facts

Release number: 6887-14
Release date: 2014-03-22
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/6887-14

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.