Enforcement Actions

The CFTC Division of Enforcement investigates and prosecutes alleged violations of the Commodity Exchange Act and Commission regulations. The CFTC takes enforcement actions against individuals and firms registered with the Commission, those who are engaged in commodity futures and option trading on designated domestic exchanges, and those who improperly market futures and options contracts.

View Dispositions
View Opinions and Adjudicatory Orders

Enforcement Advisory: Updated Advisory on Self Reporting and Full Cooperation

Enforcement Advisory: Cooperation Factors in Enforcement Division Sanction Recommendations for Individuals

Enforcement Advisory: Cooperation Factors in Enforcement Division Sanction Recommendations for Companies

Enforcement Advisory: Advisory on Self Reporting and Cooperation for CEA Violations Involving Foreign Corrupt Practices

See CFTC Press Release 7518-17 (January 19, 2017) and
Speech of James McDonald, Director of the Division of Enforcement Commodity Futures Trading Commission Regarding Perspectives on Enforcement: Self-Reporting and Cooperation at the CFTC (September 25, 2017)

Date ENFORCEMENT ACTIONS
Federal Court in California Orders Ruben Gonzalez, Jose Naranjo, and their Company to Pay over $8 Million for Operating Ponzi Scheme and Misappropriation
CFTC Charges Susan G. Davis, David E. Howard II, Joseph Burgos, and their Companies with Fraud in Off-Exchange Foreign Currency Scheme
Federal Court in Illinois Orders Jay C. Nolan and His Company, Lodge Capital Group, LLC, to Pay $825,000 Civil Monetary Penalty for Multi-Million Commodity Pool Fraud Scheme
Christopher L. Pia, Former Portfolio Manager for Hedge Fund Moore Capital Management, LLC, to Pay $1 Million Penalty to Settle CFTC Charges of Attempted Manipulation
Federal Court in Texas Orders Jeremiah C. Yancy and His Company to Pay More than $2 Million for Foreign Currency Ponzi Scheme and Misappropriation
Ecoval Dairy Trade, Inc. Ordered to Pay $1,425,000 Penalty to Settle CFTC Charges of Attempted Manipulation of Non Fat Dry Milk Futures Prices
CFTC Charges Jeffery A. Lowrance and His Company, First Capital Savings and Loan, with Operating a Million Dollar Foreign Currency Ponzi Scheme
Federal Court in Illinois Orders Joseph A. Dawson to Pay $2.1 Million Penalty for Commodity Pool Fraud and Misappropriation
CFTC Charges Robert S. Moss of North Carolina with Commodity Pool Fraud and Misappropriation
CFTC Obtains Default Judgment and Permanent Injunction against Florida Resident David L. Ortiz and His Companies for Defrauding Customers in Off-Exchange Foreign Currency Scam