CFTC Charges Nigerian and American Citizens Operating as PrimeFX with Forex and Bitcoin Fraud and Misappropriation Fraud

CFTC release 8441-21 · 2021-09-30 · view on cftc.gov ↗

Key facts

Release number
8441-21
Release date
2021-09-30
Type
Fraud
Primary source
https://www.cftc.gov/PressRoom/PressReleases/8441-21

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.