CFTC Archives - FortuneZ

US Court Orders Crypto Ponzi Scheme Operator to Pay $32 Million

April 9, 2021

A federal court in Nevada has entered a default judgment against Circle Society and its operator David Gilbert Saffron for running a cryptocurrency fraud and misappropriation scheme. The case was brought to c...

CFTC Orders Binary Options Fraud to Pay $1 Million

April 7, 2021

The US Commodity Futures Trading Commission (CFTC) has settled charges with Glenn Olson for his role in binary options fraud and ordered him to pay over a million dollars, combining the disgorgement of the ill-...

CFTC Hits Mastermind of Control-Finance Bitcoin Scam with $570M Fine

March 27, 2021

Benjamin Reynolds, the mastermind behind a massive bitcoin Ponzi scheme, must pay the CFTC a whopping $572 million in penalty and restitution after a federal judge in New York entered a default judgment against...

CFTC Hits Coinbase with $6.5 Million Fine Over Wash Trades

March 20, 2021

Coinbase was ordered to pay $6.5 million in restitution to resolve civil charges brought by the US Commodities Futures Trading Commission for inaccurate reporting as well as wash trading on its institutional pl...

OANDA Gets a $500,000 CFTC Penalty Over Minimum Capital Lapses

August 21, 2020

The US Commodity Futures Trading Commission (CFTC) has hit OANDA Corporation with a $500,000 fine for failing to adhere to certain regulations, including that it failed to meet minimum capital requirements. CF...

CFTC Failed to Locate Director of Crypto Scam Control-Finance

August 1, 2020

The Commodity Futures Trading Commission (CFTC) has obtained a court order on Tuesday for alternative service as it failed to locate the director of Control-Finance, Benjamin Reynolds. The regulator filed an e...

CFTC Sanctions Two Plutus Entities Offering Digital Asset-Based Swaps

July 13, 2020

The Commodity Futures Trading Commission (CFTC) revealed today it issued an order filing and settling charges against respondents Plutus Financial, Inc. d/b/a Abra of California, and Plutus Technologies Phili...

TP ICAP Names Former CFTC Director as Global Head of Compliance

September 3, 2019

With compliance becoming increasingly important for brokers, TP ICAP has managed to secure a seasoned former US financial regulator, Amir Zaidi, as its global head of compliance, according to Financial News L...

CFTC Targets Corona-Related FX and Binary Options Scam

August 7, 2019

A Georgian resident, who was ordered by a state regulator to ‘cease and desist’ earlier this year, is in hot water with the CFTC on charges that he defrauded people by soliciting investments in a phony FX and b...

CFTC Investigating BitMEX for Services in the US

July 19, 2019

The United States Commodities and Futures Trading Commission (CFTC) is probing BitMEX, a cryptocurrency derivatives exchange, over suspicions of a violation of regulations, Bloomberg reported on Friday. The ...