Federal Court Orders South African CEO to Pay Over $3.4 Billion for Forex Fraud Fraud

CFTC release 8696-23 · 2023-04-27 · view on cftc.gov ↗

Key facts

Release number
8696-23
Release date
2023-04-27
Type
Fraud
Primary source
https://www.cftc.gov/PressRoom/PressReleases/8696-23

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.