Federal Court Orders Illinois Man and His Entities to Pay Over $20 Million in Restitution and Penalties for Commodity Pool Ponzi Scheme Ponzi scheme

CFTC release 8823-23 · 2023-11-15 · view on cftc.gov ↗

Key facts

Release number
8823-23
Release date
2023-11-15
Type
Ponzi scheme
Primary source
https://www.cftc.gov/PressRoom/PressReleases/8823-23

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.