Federal Court Orders Nearly $17.5 Million in Sanctions against Naples, Florida Resident Dorian Garcia and his Companies for Solicitation Fraud, Misappropriation, and Registration Violations in Operating a Ponzi Scheme Fraud

CFTC release 7400-16 · 2016-07-06 · view on cftc.gov ↗

Key facts

Release number: 7400-16
Release date: 2016-07-06
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7400-16

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.