Federal Court in New York Imposes a $2.16 Million Penalty and Permanent Trading Bans against Michael A. Kardonick, Gary R. Shapoff, and Atwood & James for Forex Options Fraud and Misappropriation Fraud

CFTC release 7107-15 · 2015-01-22 · view on cftc.gov ↗

Key facts

Release number: 7107-15
Release date: 2015-01-22
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7107-15

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.