# Federal Court Imposes Over $29 Million in Restitution and Penalties Against California and Colorado Residents for Binary Options and Forex Fraud, Registration Violations, and Failure to Comply with Commodity Pool Operator Regulations

> CFTC release 8556-22 · 2022-07-15 · **Fraud** · ENFORCEMENT

## Key facts

- **Release number:** 8556-22
- **Release date:** 2022-07-15
- **Type:** Fraud
- **Title:** Federal Court Imposes Over $29 Million in Restitution and Penalties Against California and Colorado Residents for Binary Options and Forex Fraud, Registration Violations, and Failure to Comply with Commodity Pool Operator Regulations
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/8556-22

## 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 8556-22, "Federal Court Imposes Over $29 Million in Restitution and Penalties Against California and Colorado Residents for Binary Options and Forex Fraud, Registration Violations, and Failure to Comply with Commodity Pool Operator Regulations", 2022-07-15. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/cftc-action/8556-22.

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