CFTC and State of Utah Charge Salt Lake City Precious Metals Dealer and His Company with Engaging in $170 Million Precious Metals Ponzi Scheme Ponzi scheme

CFTC release 7842-18 · 2018-11-16 · view on cftc.gov ↗

Key facts

Release number: 7842-18
Release date: 2018-11-16
Type: Ponzi scheme
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7842-18

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.