# Federal Court Orders Rhode Island Man to Pay More than $2.8 Million in Restitution for Virtual Currency Fraud

> CFTC release 8630-22 · 2022-12-01 · **Fraud** · ENFORCEMENT

## Key facts

- **Release number:** 8630-22
- **Release date:** 2022-12-01
- **Type:** Fraud
- **Title:** Federal Court Orders Rhode Island Man to Pay More than $2.8 Million in Restitution for Virtual Currency Fraud
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/8630-22

## 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 8630-22, "Federal Court Orders Rhode Island Man to Pay More than $2.8 Million in Restitution for Virtual Currency Fraud", 2022-12-01. Retrieved via AI Analytics 2026-07-11 from https://api.ai-analytics.org/cftc-action/8630-22.

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