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

> CFTC release 7385-16 · 2016-06-08 · **Fraud** · ENFORCEMENT

## Key facts

- **Release number:** 7385-16
- **Release date:** 2016-06-08
- **Type:** Fraud
- **Title:** CFTC Charges Three Men and Their Florida-Based Berkley Companies with $2.7 Million Precious Metals and Rare Diamonds Fraud
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/7385-16

## 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 7385-16, "CFTC Charges Three Men and Their Florida-Based Berkley Companies with $2.7 Million Precious Metals and Rare Diamonds Fraud", 2016-06-08. Retrieved via AI Analytics 2026-06-24 from https://api.ai-analytics.org/cftc-action/7385-16.

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