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
Charlottesville, Virginia-based Defendants Ordered to Pay More than $4.6 Million in Disgorgement and Civil Penalties to Settle 2009 CFTC Anti-Fraud Action
CFTC Charges Ohio-based Defendants Enrique Villalba, Jr., and Money Market Alternative, LP, with Operating a Multi-Million Dollar Futures Ponzi Scheme
Georgia-Based Hedge Fund Lake Dow and its Principal, Ty Edwards, Ordered to Pay More than $4 million in Restitution and Penalties in CFTC Commodity Pool Fraud Action
Federal Court Imposes $260,000 in Civil Penalties against Austin, Texas Resident Steven Leigh Shakespeare and His Company, Guardian Futures, Inc., Both Charged with Fraud and Unauthorized Trading
CFTC Charges Patrick Rakotonanahary and Cyber Market Group LLC with Operating a Multi-Million Dollar Ponzi Scheme in Hawaii and Elsewhere in the U.S.
CFTC Charges Raleigh, North Carolina Man and His Company, Yellowstone Partners, Inc., with Operating a Foreign Currency Ponzi Scheme
CFTC Charges Scottsdale, Arizona Resident Helmut H. Weber d/b/a Weber Capital Management with Solicitation Fraud and Misappropriation in Forex Scheme
Federal Court Issues Preliminary Injunction against Virginia Resident Ronald W. Smith, Jr., Doing Business as Safeguard 3030 Investment Club, in Forex Fraud Scheme
CFTC Charges Texas Resident Willie L. Cloud, Jr. and His Investment Company, C & R Financial, with Operating a Foreign Currency Ponzi Scheme
Federal Court Orders California Man David Michael Kogan and His Company, First Capitol Futures Group, to Pay More than $20.3 Million in CFTC Commodity Options Fraud Action