# 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

> CFTC release 6887-14 · 2014-03-22 · **Fraud** · ENFORCEMENT

## Key facts

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

## 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 6887-14, "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", 2014-03-22. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/cftc-action/6887-14.

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