Federal Court Orders California-Based Defendants Bharat Adatia, Lions Wealth Holdings, Lions Wealth Services, and 20/20 Precious Metals to Pay over $5.3 Million in Monetary Sanctions for Multi-Million Dollar Fraudulent Precious Metals Scheme Fraud

CFTC release 7106-15 · 2015-01-22 · view on cftc.gov ↗

Key facts

Release number: 7106-15
Release date: 2015-01-22
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7106-15

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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.