CFTC Charges Three Men and Their Florida-Based Berkley Companies with $2.7 Million Precious Metals and Rare Diamonds Fraud Fraud

Key facts

Release number

7385-16

Release date

2016-06-08

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/7385-16

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.