Federal Court Orders Defendant to Pay More Than $2.9 Million in Connection with a Social Media-Based Forex Fraud Scheme Fraud

Key facts

Release number

7980-19

Release date

2019-07-19

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/7980-19

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.