Federal Court Orders New York Firm 4X Solutions, Inc. and Its Principal, Whileon Chay, to Pay More than $10 Million in Disgorgement and a Civil Monetary Penalty for Forex Fraud Ponzi Scheme Fraud

CFTC release 7321-16 · 2016-02-09 · view on cftc.gov ↗

Key facts

Release number: 7321-16
Release date: 2016-02-09
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7321-16

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.