CFTC and State of Utah Amend Their Complaint Against Rust Rare Coin and Gaylen Rust to Charge Additional Defendants for Participating in $200 Million Salt Lake City Precious Metals Ponzi Scheme Ponzi scheme

CFTC release 7856-18 · 2018-12-17 · view on cftc.gov ↗

Key facts

Release number: 7856-18
Release date: 2018-12-17
Type: Ponzi scheme
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7856-18

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.