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
CFTC SETTLES LAWSUIT WITH AMERICAN ELECTRIC POWER COMPANY AND AEP ENERGY SERVICES, INC. FOR FALSE REPORTING AND ATTEMPTED MANIPULATION IN NATURAL GAS MARKETS; Federal Government Collects $81 Million: Defendants Ordered to Pay $30 Million Civil Monetary Penalty to CFTC; AEP Energy Services, Inc. to Pay an Additional $30 Million to U.S.Department of Justice to Avoid Federal Criminal Prosecution, and $21 Million to the Federal Energy Regulatory Commission
CFTC FINDS THAT PRINCETON, NEW JERSEY, COMMODITY TRADING ADVISOR ROYAL BERG, INC. AND ITS PRINCIPAL, GARY BERG, VIOLATED DISCLOSURE OBLIGATIONS
U.S. DISTRICT COURT ENJOINS SOUTH CAROLINA RESIDENT GEORGE HEFFERNAN FROM ENGAGING IN COMMODITIES FRAUD; FREEZES ASSETS; Order Arises From Complaint By CFTC Charging Heffernan, Also Known As "George W. Marshall," With Fraud for the Third Time in Four Years,
TEXAS FEDERAL COURT ORDERS DEFENDANTS RICHARD HALE AND ALLEGHENY GULF INVESTMENTS, INC. TO PAY $440,000 IN CIVIL PENALTIES FOR MISAPPROPRIATING CUSTOMER FUNDS; Defendants Also Prohibited From Handling Commodity Interest Accounts
CALIFORNIA FEDERAL JUDGE ORDERS ARREST OF JIAN ZHUANG, PRESIDENT OF LOS ANGELES-AREA FOREIGN CURRENCY FIRM EMERALD WORLDWIDE HOLDINGS, INC., IN LAWSUIT CHARGING A COMMODITIES SCAM; Zhuang Failed to Pay Money Sanctions Arising Out of Earlier Contempt Order in CFTC Case Charging Zhuang and Others With Defrauding More than 300 Customers of Over $5 Million
FEDERAL COURT FREEZES ASSETS OF FLORIDA FIRM AND FIVE INDIVIDUALS CHARGED WITH DEFRAUDING CUSTOMERS OF OVER $6 MILLION; CFTC Alleges that United Investors Group, Inc., Former Director Andrew D. Ross, CEO Paul F. Plunkett, and Traders Greg P. Allotta, Jay M. Levy, and Michael H. Savitsky III, Made False Claims that Customers Would Make Large Profits with Little Risk
CFTC SETTLES CHARGES AGAINST FLORIDA TRADING FIRM AND TWO INDIVIDUALS RELATING TO ILLEGAL WASH TRADES; Hencorp Becstone Futures LC, Jorge Mattos, and Oscar Schaps Ordered to Pay Civil Penalties
CALIFORNIA RESIDENTS PAULINO RENE DIAS, JR. AND VICTOR SMITH, ALONG WITH KRUTE CORPORATION, AGREE TO PAY $2.19 MILLION TO SETTLE COMMODITY POOL FRAUD ACTION; CFTC Imposes $240,000 in Civil Penalties Orders Customer Restitution of $1.95 Million
FLORIDA FEDERAL COURT ORDER ENJOINS TWO FLORIDA BUSINESSES AND FOUR EMPLOYEES FROM VIOLATING FEDERAL COMMODITIES LAW; CFTC Charged Defendants Liberty Financial Trading Corp.; Liberty Real Assets Investment Corp.; Ted Romeo; Leslie Weiner; Nader Yazdani; and Randy Bursteinwith with Fraudulently Soliciting Customers to Trade Options on Futures Contracts
CFTC CHARGES A NEBRASKA BANK, ITS BANK HOLDING COMPANY, AND AN INTRODUCING BROKER WITH FRAUD AND UNAUTHORIZED TRADING; CFTC Names Sherman County Management, Inc., Sherman County Bank, and PT Holdings as Additional Defendants in an Ongoing Case Alleging Commodity Fraud and Unauthorized Trading