CFTC Orders Convergent Wealth Advisors LLC to Pay an $800,000 Civil Monetary Penalty for Fraudulent Omissions and False Statements in Connection with an Employee’s Commodity Pool Fraud

CFTC release 7500-16 · 2016-12-20 · view on cftc.gov ↗

Key facts

Release number: 7500-16
Release date: 2016-12-20
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7500-16

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.