CFTC Orders Indiana Resident Terry Lee Phillips and his Two Companies to Pay Restitution and a Civil Monetary Penalty Totaling More than $234,000 for Fraud and Misappropriation Fraud

Key facts

Release number

7232-15

Release date

2015-09-18

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/7232-15

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.