Federal Court Orders South African Company to Pay Over $1.7 Billion in Restitution for Forex Fraud Fraud

CFTC release 8772-23 · 2023-09-07 · view on cftc.gov ↗

Key facts

Release number
8772-23
Release date
2023-09-07
Type
Fraud
Primary source
https://www.cftc.gov/PressRoom/PressReleases/8772-23

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.