Federal Court in Illinois Orders Approximately $500 Million in Sanctions against Defendant Nikolai S. Battoo and His Three Companies for Committing a Global Commodity Futures and Options Fraud Fraud

CFTC release 7306-16 · 2016-01-14 · view on cftc.gov ↗

Key facts

Release number: 7306-16
Release date: 2016-01-14
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7306-16

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.