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

Date ENFORCEMENT ACTIONS
FLORIDA DISTRICT COURT ISSUES FINAL ORDER OF JUDGMENT AGAINST NATIONAL BULLION AND COIN, INC., CAPITAL CREDIT MANAGEMENT & FINANCE, INC., JOSEPH B. FLANIGAN, AND LAWRENCE COLMAN; Order Requires Defendants to Pay in Excess of $12 Million in Restitution and Civil Monetary Penalties in Case Involving the Fraudulent Marketing of Illegal Precious Metals Futures Contracts
CFTC SETTLES ENFORCEMENT ACTION AGAINST ISAAC FLEYSHMAKHER FOR COMMODITY POOL FRAUD; CFTC Order Finds that Fleyshmakher Made Fraudulent Solicitations and Engaged in Unauthorized Trading and Misappropriation of Funds in Connection with His Operation of New Frontier and New Millennium Commodity Pools; Order Requires Him to Pay Restitution to Defrauded Investors, Among Other Sanctions
CFTC CHARGES JAMES SPENCER BROWN OF FORT WORTH, TEXAS WITH FRAUD AND VIOLATION OF A CFTC ORDER; Complaint Alleges that Brown Fraudulently Solicited Customers While Acting as an Unregistered Commodity Trading Advisor and Violated Registration and Disclosure Requirements
U.S. DISTRICT COURT IN CALIFORNIA ISSUES ORDER ENJOINING RABB SABIN AND ART SMITH FROM FRAUDULENTLY SOLICITING CUSTOMERS TO SUBSCRIBE TO WEBSITE THAT TOUTED THEIR PURPORTEDLY PROFITABLE COMMODITY OPTIONS TRADING METHODOLOGY; Defendants Are Ordered To Pay Restitution of Over $384,700 and Civil Monetary Penalties Totaling $100,000
FEDERAL COURT IN HAWAII PERMANENTLY ENJOINS DAVID T. MARANTETTE, III FROM COMMITTING COMMODITY FRAUD WHEN SOLICITING CUSTOMERS TO INVEST IN COMMODITY POOLS AND PURCHASE COMMODITY TRADING ADVISORY SERVICES; The Consent Order Imposes a Permanent Injunction and Trading Ban and Requires Marantette and his Company, Troubadour, Inc., to Make Restitution to Investors of Up to Approximately $2.25 Million
CFTC ACCEPTS SETTLEMENT OFFER OF FORMER BRANCH MANAGER DARRYL M. OSLER IN CASE INVOLVING THE FRAUDULENT SOLICITATION OF CUSTOMERS TO INVEST IN COMMODITY OPTIONS; Osler Agrees Never to Seek Registration or Exemption from Registration with the CFTC or Otherwise Engage in Activities Requiring Registration or Exemption from Registration
CFTC ISSUES TWO ADVISORIES ADDRESSING THE OFFERING OF FOREIGN CURRENCY (FOREX) TRADING OPPORTUNITIES TO THE RETAIL PUBLIC; CFTC Outlines New Forex Regulatory Scheme and Also Alerts the Public To Foreign Currency Scams
FEDERAL COURT ENTERS CONSENT ORDER OF PERMANENT INJUNCTION AGAINST ANTHONY HOLT FOR HIS INVOLVEMENT IN A FRAUDULENT COMMODITY POOL SCHEME; Holt is Permanently Barred from the Futures Industry and Agrees to Pay Civil Penalty
CFTC FILES ENFORCEMENT ACTIONS AGAINST FOUR COMEX FLOOR BROKERS, CHARGING THEM WITH FRAUDULENTLY EXECUTING GOLD OPTIONS TRADES, AMONG OTHER VIOLATIONS OF FEDERAL COMMODITIES LAW; CFTC Accepts Offers of Settlement from Paul Merolla and Philip Selby and Files An Administrative Complaint Against Timothy Murphy and Vincent Coppola
CFTC FILES AND SETTLES ENFORCEMENT ACTION AGAINST FORMER GRIFFIN TRADING COMPANY CHIEF FINANCIAL OFFICER, SCOTT N. SZACH; CFTC Finds that Szach Failed to Supervise Griffin's London Branch Office, Filed False Reports, and Committed Segregation and Recordkeeping Violations in Connection with His Unauthorized Trading