# Federal Court Orders Florida Man and Foreign Defendants to Pay $7 Million for Role in Fraudulent Binary Options and Digital Asset Scheme

> CFTC release 8460-21 · 2021-11-17 · **Fraud** · ENFORCEMENT

## Key facts

- **Release number:** 8460-21
- **Release date:** 2021-11-17
- **Type:** Fraud
- **Title:** Federal Court Orders Florida Man and Foreign Defendants to Pay $7 Million for Role in Fraudulent Binary Options and Digital Asset Scheme
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/8460-21

## 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 8460-21, "Federal Court Orders Florida Man and Foreign Defendants to Pay $7 Million for Role in Fraudulent Binary Options and Digital Asset Scheme", 2021-11-17. Retrieved via AI Analytics 2026-07-12 from https://api.ai-analytics.org/cftc-action/8460-21.

---

*[CFTC actions dataset](/datasets/cftc-actions) · CC0 1.0*