# Federal Court Orders Forex Fraudster and His Companies to Pay More Than $2.2 Million for Fraudulent Solicitation and Misappropriation of Customer Funds

> CFTC release 7889-19 · 2019-03-18 · **Fraud** · ENFORCEMENT

## Key facts

- **Release number:** 7889-19
- **Release date:** 2019-03-18
- **Type:** Fraud
- **Title:** Federal Court Orders Forex Fraudster and His Companies to Pay More Than $2.2 Million for Fraudulent Solicitation and Misappropriation of Customer Funds
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/7889-19

## 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 7889-19, "Federal Court Orders Forex Fraudster and His Companies to Pay More Than $2.2 Million for Fraudulent Solicitation and Misappropriation of Customer Funds", 2019-03-18. Retrieved via AI Analytics 2026-07-13 from https://api.ai-analytics.org/cftc-action/7889-19.

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