Federal Court Orders Arizona Resident Derek Springfield and His Company, Draven, LLC, to Pay over $2.2 Million in Restitution and a Penalty in CFTC Anti-Fraud Action Fraud

Key facts

Release number

7642-17

Release date

2017-11-13

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/7642-17

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.