# New Jersey Federal Court Orders Alcibiades Cifuentes, Jennifer Wee Cifuentes, and Cifuentes Fund Management, LLC, to Pay More Than $2.2 Million for Forex Fraud Scheme

> CFTC release 7724-18 · 2018-05-08 · **Fraud** · ENFORCEMENT

## Key facts

- **Release number:** 7724-18
- **Release date:** 2018-05-08
- **Type:** Fraud
- **Title:** New Jersey Federal Court Orders Alcibiades Cifuentes, Jennifer Wee Cifuentes, and Cifuentes Fund Management, LLC, to Pay More Than $2.2 Million for Forex Fraud Scheme
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/7724-18

## 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 7724-18, "New Jersey Federal Court Orders Alcibiades Cifuentes, Jennifer Wee Cifuentes, and Cifuentes Fund Management, LLC, to Pay More Than $2.2 Million for Forex Fraud Scheme", 2018-05-08. Retrieved via AI Analytics 2026-07-05 from https://api.ai-analytics.org/cftc-action/7724-18.

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