# 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

> CFTC release 7306-16 · 2016-01-14 · **Fraud** · ENFORCEMENT

## Key facts

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

## 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 7306-16, "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", 2016-01-14. Retrieved via AI Analytics 2026-07-13 from https://api.ai-analytics.org/cftc-action/7306-16.

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