CFTC Charges Fake Commodity Trading Platform with Fraud and Misappropriation in an Online Scam Targeting Asian Americans Fraud

CFTC release 8987-24 · 2024-09-27 · view on cftc.gov ↗

Key facts

Release number
8987-24
Release date
2024-09-27
Type
Fraud
Primary source
https://www.cftc.gov/PressRoom/PressReleases/8987-24

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.