Federal Court Orders Kevin Michael Symons of Foot Hill Ranch, Calif., & His Firm, FTS Financial, Inc., to Pay over $5 Million Total for Fraud & Jerry Austin Simmons of Charlotte, N.C., to Pay $360,000 for Fraud & Failure to Register with the CFTC Fraud

CFTC release 7659-17 · 2017-12-12 · view on cftc.gov ↗

Key facts

Release number: 7659-17
Release date: 2017-12-12
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7659-17

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.