# Victims of New York Ponzi Scheme Recover Over $1 Billion Following CFTC Enforcement Action

> CFTC release 8238-20 · 2020-09-11 · **Ponzi scheme** · ENFORCEMENT

## Key facts

- **Release number:** 8238-20
- **Release date:** 2020-09-11
- **Type:** Ponzi scheme
- **Title:** Victims of New York Ponzi Scheme Recover Over $1 Billion Following CFTC Enforcement Action
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/8238-20

## 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 8238-20, "Victims of New York Ponzi Scheme Recover Over $1 Billion Following CFTC Enforcement Action", 2020-09-11. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/cftc-action/8238-20.

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