CFTC Charges Dallas and Los Angeles Area Precious Metals Dealers in Ongoing Fraud Scheme Garnering Over $7 Million from Retirement Accounts Fraud

Key facts

Release number

8784-23

Release date

2023-09-26

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/8784-23

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.