# 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

> CFTC release 7400-16 · 2016-07-06 · **Fraud** · ENFORCEMENT

## Key facts

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

## 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 7400-16, "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", 2016-07-06. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/cftc-action/7400-16.

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