# Federal Court Orders New Mexico Man to Pay Over $10.3 Million for Defrauding Commodity Futures Clients in Long-Running Ponzi Scheme

> CFTC release 8376-21 · 2021-04-08 · **Ponzi scheme** · ENFORCEMENT

## Key facts

- **Release number:** 8376-21
- **Release date:** 2021-04-08
- **Type:** Ponzi scheme
- **Title:** Federal Court Orders New Mexico Man to Pay Over $10.3 Million for Defrauding Commodity Futures Clients in Long-Running Ponzi Scheme
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/8376-21

## 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 8376-21, "Federal Court Orders New Mexico Man to Pay Over $10.3 Million for Defrauding Commodity Futures Clients in Long-Running Ponzi Scheme", 2021-04-08. Retrieved via AI Analytics 2026-07-12 from https://api.ai-analytics.org/cftc-action/8376-21.

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