# Federal Court Orders Texas Man and Six Companies to Pay Over $9.5 Million in Fraudulent Scheme Involving Futures, Options, and Foreign Currency

> CFTC release 8978-24 · 2024-09-25 · **Fraud** · ENFORCEMENT

## Key facts

- **Release number:** 8978-24
- **Release date:** 2024-09-25
- **Type:** Fraud
- **Title:** Federal Court Orders Texas Man and Six Companies to Pay Over $9.5 Million in Fraudulent Scheme Involving Futures, Options, and Foreign Currency
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/8978-24

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 8978-24, "Federal Court Orders Texas Man and Six Companies to Pay Over $9.5 Million in Fraudulent Scheme Involving Futures, Options, and Foreign Currency", 2024-09-25. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/cftc-action/8978-24.

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