# Court Finds El Paso Man and His Firm Liable for Defrauding Forex and Cryptocurrency Clients of More Than $7.2 Million

> CFTC release 8507-22 · 2022-03-29 · **Other enforcement** · ENFORCEMENT

## Key facts

- **Release number:** 8507-22
- **Release date:** 2022-03-29
- **Type:** Other enforcement
- **Title:** Court Finds El Paso Man and His Firm Liable for Defrauding Forex and Cryptocurrency Clients of More Than $7.2 Million
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/8507-22

## 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 8507-22, "Court Finds El Paso Man and His Firm Liable for Defrauding Forex and Cryptocurrency Clients of More Than $7.2 Million", 2022-03-29. Retrieved via AI Analytics 2026-07-03 from https://api.ai-analytics.org/cftc-action/8507-22.

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