# 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

> CFTC release 7856-18 · 2018-12-17 · **Ponzi scheme** · ENFORCEMENT

## Key facts

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

## 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 7856-18, "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", 2018-12-17. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/cftc-action/7856-18.

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