# Federal Court in Chicago Orders U.K. Resident Navinder Singh Sarao to Pay More than $38 Million in Monetary Sanctions for Price Manipulation and Spoofing

> CFTC release 7486-16 · 2016-11-18 · **Spoofing** · ENFORCEMENT

## Key facts

- **Release number:** 7486-16
- **Release date:** 2016-11-18
- **Type:** Spoofing
- **Title:** Federal Court in Chicago Orders U.K. Resident Navinder Singh Sarao to Pay More than $38 Million in Monetary Sanctions for Price Manipulation and Spoofing
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/7486-16

## 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 7486-16, "Federal Court in Chicago Orders U.K. Resident Navinder Singh Sarao to Pay More than $38 Million in Monetary Sanctions for Price Manipulation and Spoofing", 2016-11-18. Retrieved via AI Analytics 2026-07-10 from https://api.ai-analytics.org/cftc-action/7486-16.

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