# CFTC Charges IB Capital FX, LLC, Michel Geurkink, and Emad Echadi with Soliciting at Least $50 Million from Members of the Public for Forex Trading, without Being Registered with the CFTC

> CFTC release 7277-15 · 2015-11-17 · **Other enforcement** · ENFORCEMENT

## Key facts

- **Release number:** 7277-15
- **Release date:** 2015-11-17
- **Type:** Other enforcement
- **Title:** CFTC Charges IB Capital FX, LLC, Michel Geurkink, and Emad Echadi with Soliciting at Least $50 Million from Members of the Public for Forex Trading, without Being Registered with the CFTC
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/7277-15

## 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 7277-15, "CFTC Charges IB Capital FX, LLC, Michel Geurkink, and Emad Echadi with Soliciting at Least $50 Million from Members of the Public for Forex Trading, without Being Registered with the CFTC", 2015-11-17. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/cftc-action/7277-15.

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