Federal Court in California Orders Ralph Metters, aka Malachai “Moe” Levy, to Pay a $500,000 Penalty and Disgorge $500,000 of Ill-Gotten Gains for Defrauding Investors in a Foreign Currency Scheme Other enforcement

Key facts

Release number

7424-16

Release date

2016-08-13

Type

Other enforcement

Primary source

https://www.cftc.gov/PressRoom/PressReleases/7424-16

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.