# CFTC Charges Multiple Individuals and Entities in $28 Million Ponzi Scheme that Targeted Churchgoers

> CFTC release 8226-20 · 2020-08-28 · **Ponzi scheme** · ENFORCEMENT

## Key facts

- **Release number:** 8226-20
- **Release date:** 2020-08-28
- **Type:** Ponzi scheme
- **Title:** CFTC Charges Multiple Individuals and Entities in $28 Million Ponzi Scheme that Targeted Churchgoers
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/8226-20

## 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 8226-20, "CFTC Charges Multiple Individuals and Entities in $28 Million Ponzi Scheme that Targeted Churchgoers", 2020-08-28. Retrieved via AI Analytics 2026-07-04 from https://api.ai-analytics.org/cftc-action/8226-20.

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