# 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

> CFTC release 7424-16 · 2016-08-13 · **Other enforcement** · ENFORCEMENT

## Key facts

- **Release number:** 7424-16
- **Release date:** 2016-08-13
- **Type:** Other enforcement
- **Title:** 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
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/7424-16

## 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 7424-16, "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", 2016-08-13. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/cftc-action/7424-16.

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