Search Results for: CFTC
Forex trading firm ordered to pay millions for fraudulent Forex pool scheme
December 27th, 2018
The Commodity Futures Trading Commission (CFTC) announced that on December 7, a federal court ordered New York firm Wright Time Capital Group LLC (d/b/a Global FX Club) (WTCG) to pay more than $1.48 million in civil monetary penalties and ...
Individual and Company charged with ongoing Forex and Commodity fraud
December 18th, 2018
The Commodity Futures Trading Commission (CFTC) has issued an announcement to inform about the filling of a civil enforcement action against an individual and his Illinois limited liability company for ongoing Forex and Commodity fraud. In accordance the announcement ...
Penalty of $11 Million imposed for fraudulent commodity pool trading schemes
December 11th, 2018
The Commodity Futures Trading Commission (CFTC) announced an Order of default judgment and permanent injunction has been issued against defendants Scott Allensworth (d/b/a Capital Growth Group Associates and Cobra Development Group LLP), of Newhall, California, and his California company ...
Company and individual charged for $170 Million Ponzi Scheme
November 19th, 2018
The Commodity Futures Trading Commission (CFTC) and the Utah Department of Commerce, Division of Securities, through its Attorney General, jointly filed a civil enforcement action in the U.S. District Court for the District of Utah, Central Division, against Defendants ...
Dollar climbs to 16-month peak; pound falls on Brexit fears
November 13th, 2018
The dollar reached a 16-month high on Monday against a basket of currencies as investors built bets on a Federal Reserve interest rate increase next month, and political risks in Europe which put pressure on the euro and the ...
Former virtual currency trader fined over a million for Bitcoin and Litecoin fraud
November 12th, 2018
The Commodity Futures Trading Commission (CFTC) issued an Order filing and settling charges against Joseph Kim (Kim), of Phoenix, Arizona, requiring Kim to pay more than $1.1 million for a fraudulent Bitcoin and Litecoin scheme. In the order, Kim ...
Former managing director of Deutsche Bank Securities Inc. charged for fraud
November 12th, 2018
The Commodity Futures Trading Commission (CFTC) announced today that it filed and settled charges against Jacob Bourne, a former managing director of Deutsche Bank Securities Inc., for fraudulently mismarking swap valuations to conceal significant trading losses. The CFTC Order ...
Firm and CEO to pay more than $2.5 Million for fraudulent Bitcoin ponzi scheme
October 19th, 2018
A New York federal court has ordered New York corporation Gelfman Blueprint, Inc. (GBI) and its Chief Executive Officer Nicholas Gelfman of Brooklyn, New York, to pay in total over $2.5 million in civil monetary penalties and restitution in ...
Beware of fraudulent initial coin offering
October 12th, 2018
The Securities and Exchange Commission (SEC) announced that it has obtained an emergency court order halting a planned initial coin offering (ICO), which backers falsely claimed was approved by the SEC. The order also halts ongoing pre-ICO sales by ...
U.S. Federal Court enters $14 Million Judgment against Options Trader
October 12th, 2018
The U.S. Commodity Futures Trading Commission (CFTC) announced that Judge John Robert Blakey of the U.S. District Court for the Northern District of Illinois entered a Consent Order for Permanent Injunction (Consent Order), which resolves charges against Defendant Thomas ...
