CFTC Charges California Resident Jason B. Scharf, His Worldwide Web of Companies, and Florida-Based Affiliate Marketers Michael Shah and Zilmil, Inc. with $16 Million Binary Options Fraud Scheme Fraud

CFTC release 7590-17 · 2017-07-19 · view on cftc.gov ↗

Key facts

Release number: 7590-17
Release date: 2017-07-19
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7590-17

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.