CFTC Charges New York Corporations Safety Capital Management, Inc. & GNS Capital, Inc., both d/b/a FOREXNPOWER, & New York City Residents John Won, Sungmi Kang & Tae Hung Kang with Fraudulently Soliciting Over $1.5 Million in a Forex Fraud Scheme Fraud

CFTC release 7245-15 · 2015-09-26 · view on cftc.gov ↗

Key facts

Release number: 7245-15
Release date: 2015-09-26
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7245-15

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.