cftc

CFTC News: CFTC Orders Former Virtual Currency Trader to Pay More than $1.1 Million for Fraudulent Bitcoin and Litecoin Scheme

Washington, DC — The Commodity Futures Trading Commission (CFTC) today 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 admits to orchestrating a fraudulent Bitcoin and Litecoin scheme that led to … Continue reading CFTC News: CFTC Orders Former Virtual Currency Trader to Pay More than $1.1 Million for Fraudulent Bitcoin and Litecoin Scheme

CFTC News: CFTC Orders Commerzbank AG to Pay $12 Million for Swap Dealing Violations and for Misleading Statements to the CFTC

Washington DC — The Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Commerzbank AG (Commerzbank) for numerous violations of the Commodity Exchange Act (CEA) and CFTC Regulations, including failing to supervise its Swap Dealer’s activities for more than 5 years and making misleading statements and material omissions to … Continue reading CFTC News: CFTC Orders Commerzbank AG to Pay $12 Million for Swap Dealing Violations and for Misleading Statements to the CFTC

CFTC News: CFTC Charges Former Deutsche Bank Trader with Fraudulently Mismarking Swaps

Division of Enforcement also Issues Declination Letter to Deutsche Bank in Recognition of its Self-Reporting, Full Cooperation and Remediation Washington, DC — 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 … Continue reading CFTC News: CFTC Charges Former Deutsche Bank Trader with Fraudulently Mismarking Swaps

CFTC News: CFTC Commissioner Dawn D. Stump Announces Staff Appointments

Washington, DC — U.S. Commodity Futures Trading Commission (CFTC) Commissioner Dawn D. Stump announced that Dan Bucsa will serve as Chief of Staff and Senior Policy Advisor and Elizabeth Mastrogiacomo will serve as Senior Counsel. “I am extremely excited to work with Dan and Libby. Each has tremendous experience, and a unique skill set, complimentary … Continue reading CFTC News: CFTC Commissioner Dawn D. Stump Announces Staff Appointments

CFTC News: CFTC Voted on Open Meeting Agenda Items

Washington, DC — At an open meeting today, the Commodity Futures Trading Commission (Commission) voted unanimously to approve a final rule to amend the De Minimis Exception to the Swap Dealer Definition.  The Commission also voted unanimously on a request for comment regarding the Practice of “Post-Trade Name Give-Up” on Swap Execution Facilities. With a … Continue reading CFTC News: CFTC Voted on Open Meeting Agenda Items

CFTC News: Federal Court Orders Trading Firm and CEO to Pay More than $2.5 Million for Fraudulent Bitcoin Ponzi Scheme

Washington, DC – 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 what was the first anti-fraud enforcement action involving Bitcoin filed by the Commodity … Continue reading CFTC News: Federal Court Orders Trading Firm and CEO to Pay More than $2.5 Million for Fraudulent Bitcoin Ponzi Scheme

CFTC News: Federal Court in New York Orders Kevin Antonovich to Pay $554,375 Judgment for Commodity Pool Fraud

Washington, DC – The Commodity Futures Trading Commission (CFTC) announced that Judge I. Leo Glasser of the U.S. District Court for the Eastern District of New York issued a Consent Order on October 3, 2018, against Kevin Scott Antonovich, a resident of Cherry Grove, New York, requiring him to pay $554,375 in restitution and a … Continue reading CFTC News: Federal Court in New York Orders Kevin Antonovich to Pay $554,375 Judgment for Commodity Pool Fraud

CFTC News: Federal Court in Chicago Enters $14 Million Judgment against Options Trader, Thomas C. Lindstrom, for Fraudulent Options Scheme

WASHINGTON, DC – The U.S. Commodity Futures Trading Commission (CFTC) yesterday 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 C. Lindstrom, of Winnetka, Illinois, for engaging in fraud in connection with … Continue reading CFTC News: Federal Court in Chicago Enters $14 Million Judgment against Options Trader, Thomas C. Lindstrom, for Fraudulent Options Scheme