# 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

> CFTC release 7503-16 · 2016-12-21 · **Fraud** · ENFORCEMENT

## Key facts

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

## 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 7503-16, "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", 2016-12-21. Retrieved via AI Analytics 2026-07-12 from https://api.ai-analytics.org/cftc-action/7503-16.

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