Federal Court Enters Summary Judgment Against Convicted Florida Man and Orders Multiple Entities and Individuals to Pay Over $60 Million for Retail Forex Fraud Scheme Fraud

Key facts

Release number

8842-23

Release date

2023-12-20

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/8842-23

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.