CFTC Charges 4 Florida Men, 1 New Jersey Man, and Their Companies in $4.75 Million Forex Ponzi Scheme Ponzi scheme

CFTC release 8246-20 · 2020-09-16 · view on cftc.gov ↗

Key facts

Release number
8246-20
Release date
2020-09-16
Type
Ponzi scheme
Primary source
https://www.cftc.gov/PressRoom/PressReleases/8246-20

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.