Forex scammer and his companies ordered to pay over $2.2 million in fines LeapRate

March 19, 2019 BY Valentina Kirilova

Forex scammer and his companies ordered to pay over $2.2 million in fines

The U.S. Commodity Futures Trading Commission (CFTC) today revealed that the U.S. District Court for the Western Division of California’s Central District entered an order granting the CFTC’s submission for a default judgment (Order) accompanied by a judgment aligned with the Order (Judgment) against the accused Jin Choi (Choi), who is a Republic of South…

March 12, 2019 BY Valentina Kirilova

Bitcoin-funded securities dealer 1pool and CEO Patrick Brunner fined $990,000

The Commodity Futures Trading Commission (CFTC) announced that a federal court has resolved its action against the company 1pool Ltd. and its owner, by entering a Consent Order. 1pool Ltd. and its CEO and owner, Patrick Brunner, have been charged with illegally offering retail commodity transactions that were margined in bitcoin, failing to register as a…

February 22, 2019 BY Valentina Kirilova

Tulving Company fined $15.8m, Director with a lifetime trading ban

The U.S. Commodity Futures Trading Commission (CFTC) revealed that U.S. District Court Judge Robert J. Conrad Jr. of North Carolina’s Western District had agreed to a Supplemental Order against Californian Resident Hannes Tulving and his firm The Tulving Company, Inc., on charges that they solicited customers on fraudulent claims related to precious metals trading, after…

December 20, 2018 BY Valentina Kirilova

Commodity pool operators fined $23m for fraud

The Commodity Futures Trading Commission (CFTC) has just announced that Phaetra Capital GP LLC, Phaetra Capital Management LP, and Argenta Group LLC have been find more than $23 million for defrauding investors. The complete announcement reads as follows: The Commodity Futures Trading Commission (CFTC) announced today that on December 3, a federal court in New York…

October 01, 2018 BY Valentina Kirilova

CFTC charges interdealer broker TFS-ICAP with fraud

The Commodity Futures Trading Commission (CFTC) has announced that it has charged interdealer broker TFS-ICAP LLC and TFS-ICAP Ltd. (TFS-ICAP) with fraud and supervision failures. In a Complaint filed in the U.S. District Court for the Southern District of New York, the CFTC alleges that, from approximately 2008 through 2015, brokers at TFS-ICAP offices in…

September 24, 2018 BY Valentina Kirilova

CFTC fines Mizuho Bank $250,000

The Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Mizuho Bank, Ltd. (Mizuho) for engaging in multiple acts of spoofing in a variety of futures contracts on the Chicago Mercantile Exchange and the Chicago Board of Trade, including futures contracts based on United States Treasury notes and Eurodollars. The…

July 20, 2018 BY Valentina Kirilova

“Prediction Market” companies fined $3 million for illegally trading binary options

The Commodity Futures Trading Commission (CFTC) today announced that on July 5, 2018, Senior Judge Royce C. Lamberth of the U.S. District Court for the District of Columbia issued an Opinion and Order (Order) against Defendants Intrade The Prediction Market Limited (Intrade) and Trade Exchange Network Limited (TEN), Irish companies based in Dublin, Ireland, requiring them to pay, jointly…

June 28, 2017 BY Valentina Kirilova

CFTC fines Hong Kong-Based Huafu HK Co. Ltd. $225,000 for reporting violations

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against Huafu HK Co. Ltd. (Huafu), a corporation based in Hong Kong, for failing to file CFTC Form 304 reports, reporting its call cotton purchases and sales when it held or controlled at least 100 cotton futures positions. The CFTC…

May 03, 2017 BY Valentina Kirilova

CFTC charges Pennsylvania resident with fraudulently soliciting commodity futures customers

The U.S. Commodity Futures Trading Commission (CFTC) filed an enforcement action in the U.S. District Court, Northern District of Illinois, charging Defendant, William H. Powderly IV (Powderly) of New Hope, Pennsylvania, with fraudulently soliciting at least $825,000 from at least four customers for purposes of trading commodity futures on their behalf in an account in…

January 19, 2017 BY Valentina Kirilova

CFTC fines Citigroup Global Markets Inc. $25 Million for spoofing in U.S. Treasury futures markets

The U.S. Commodity Futures Trading Commission (CFTC) issued an Order today filing and settling charges against Citigroup Global Markets Inc. for spoofing — bidding or offering with the intent to cancel the bid or offer before execution — in U.S. Treasury futures markets and for failing to diligently supervise the activities of its employees and…

Tag: CFTC fines