CFTC Charges Arizona Resident Derek Springfield and His Company, Draven, LLC, with Fraudulent Solicitation, Misappropriation, and Issuing False Account Statements in Ponzi-Style Commodity Pool Scheme Fraud

CFTC release 7503-16 · 2016-12-21 · view on cftc.gov ↗

Key facts

Release number: 7503-16
Release date: 2016-12-21
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7503-16

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.