CFTC | FinTelegram News

Category: CFTC

CFTC

April 23, 2023

CFTC Charges 14 Entities For Fraudulently Claiming to be Registered with the Agency

The U.S. Commodity Futures Trading Commission (CFTC) has filed charges against 14 legal entities operating online trading platforms for fraudulently claiming to be registered with the CFTC as futures commission merchants (FCM) and retail foreign exchange dealers (RFED). Each complaint seeks an order directing the respondent to cease and desist from committing violations of the Commodity Exchange Act (CEA) and CFTC regulations.

March 28, 2023

Why The U.S. Regulator CFTC Goes After Binance CEO Changpeng Zhao!

According to the U.S. CFTC, Binance operates the world’s largest centralized digital asset exchange through an opaque web of corporate entities, all ultimately controlled by Changpeng Zhao (CZ). Much of Binance’s reported trading volume and profitability has come from its extensive solicitation of and access to customers in the United States. Allegedly. CZ was responsible for the circumvention of Binance's compliance approach. Not sued, however, is Binance.US, which is owned by BAM Trading Services Inc.

CFTC
ticker

March 28, 2023

Breaking: U.S. Regulator CFTC Charges Binance For Wilfully Violating Compliance Rules!

The U.S. Commodity Futures Trading Commission (CFTC) announced it had filed a civil enforcement action against Changpeng Zhao and Binance Holdings Limited, Binance Holdings (IE) Limited, and Binance (Services) Holdings Limited (together, Binance) with numerous violations of the Commodity Exchange Act (CEA) and CFTC regulations. The complaint also charges Samuel Lim, Binance’s former chief compliance officer, with aiding and abetting Binance’s violations.

March 20, 2023

Dear CFTC! Please Explain Why You Dismissed the Fraud Complaint In the Binary Options Case?

Regulators should protect investors and markets. In recent years, unfortunately, we have seen the total failure of regulators. They have failed to provide the emerging crypto segment with a regulatory framework. Previously, regulators could not control the vast fraudulent binary options scene, resulting in hundreds of thousands of victims and an estimated $50 billion in losses. Why the CFTC is withdrawing the fraud complaint against David Cartu is incomprehensible. And a dangerous signal of incompetence!

March 8, 2023

CFTC Dismisses Fraud Charges Against David Cartu and Joshua Cartu In $165 Million Trading Scheme.

The U.S. Commodity Futures Trading Commission (CFTC) has dropped civil charges against David Cartu and Joshua Cartu. The case remains outstanding against their brother, Jonathan Cartu, who the CFTC claims was the ultimate owner and control person of the $165-million binary options trading scheme. The CFTC claimed that the Cartu Brothers ran a binary options scheme that defrauded investors in the United States and Canada.

March 2, 2023

Disgraced Regulators, Embarrassed CFTC Commissioners, And Their FTX Worship!

FTX founder Sam Bankman-Fried (SBF) was the darling of U.S. politicians and regulators until just before the crypto scheme collapsed. FTX was seen as the U.S. answer to the "Chinese" threat posed by Binance. With the criminal and regulatory charges, some regulators are embarrassed, like the CFTC Commissioner Caroline D. Pham or the former CFTC Commissioner Mark Wetjen. CFTC recently filed a fraud lawsuit against FTX and those responsible. Pham took to Twitter to comment.

March 1, 2023

U.S. Prosecutors And Regulators Charge FTX Executive With Fraud!

Nishad Singh, 27, co-founder of collapsed crypto exchange FTX and close confident to founder Sam Bankman-Fried (SBF) pleaded guilty to six criminal counts, including conspiring to commit securities and commodities fraud. Moreover, the U.S. regulators SEC and CFTC announced fraud complaints against Singh. The FTX scheme was founded by Singh along with Samuel Bankman-Fried (SBF) and Gary Wang. U.S. Prosecutors allege that SBF stole billions of dollars of FTX customer funds.

January 10, 2023

DeFi Crypto Fraud Scheme Operator Faces Criminal And Regulatory Charges!

The U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action charging Avraham Eisenberg with running a fraudulent and manipulative trading scheme on Mango Markets to unlawfully obtain over $110 million in crypto assets from a purported decentralized digital asset exchange. This is the CFTC’s first enforcement action for a fraudulent or manipulative scheme involving trading on a supposed decentralized crypto asset platform.

December 22, 2022

U.S. Regulators & Prosecutors Charge FTX Executives Caroline Ellison And Gary Wang!

The U.S Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Department of Justice (DOJ) charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX), for their roles in fraudulent FTX crypt scheme co-founded by Sam Bankman-Fried (SBF) and Wang. Ellison and Wang pleaded guilty to the criminal charges and cooperate with the authorities.

December 16, 2022

FTX Fraud Case: Corrupted US Regulators?

Influential members of the crypto community on Twitter have been among the harshest critics of Sam Bankman-Fried (SBF) and his FTX crypto exchange for years. We know that FTX misused up to $8 billion in customer funds before filing for Chapter 11 bankruptcy. A significant portion of the misused funds was used to corrupt politicians, celebrities, and the media. While the FTX fraud unfolded, U.S. regulators allegedly stood by and watched, Twitter users expose.

November 24, 2022

The Red Listed Former Binary Options Scam YesOption And Its New Life!

YesOption was one of the infamous Israeli Binary Options scams operated through Diamond Global Ltd in the Marshall Islands. Payment services were processed through Global Online Solutions Ltd in the UK. One of the payment processors was Cyprus-regulated PowerCash21 (now Payabl). In 2015, the U.S. CFTC placed YesOption on its red list. Today YesOption.com is operated as a broker review platform and as an IB for other brokers like IQ Option or Olymp Trade.

July 28, 2022

Breaking News – OSC Orders Cartu Brothers To Pay Millions In Fines And Disgorgement!

The dual Canadian-Israeli Cartu Brothers - David Cartu, Joshua Cartu, and Jonathan Cartu - have been notorious for their fraudulent binary options schemes around the Irish GreyMountain Management Ltd (GMM) and other entities across different jurisdictions. In Sept 2020, the U.S. CFTC filed a fraud complaint; the Canadian OSC has accused them of illegal and fraudulent brokerage. In May 2021, OSC settled with David Cartu, who agreed to a seven-year ban and a CAD 300,000 penalty. Now, Ontario's Capital Markets Tribunal ordered Jonathan Cartu and Joshua Cartu to pay CAD 3.3 million.

Cash Cow Crypto: U.S. CFTC Enforcement Sets Records in FY 2024 with $17.1 Billion in Monetary Relief!

The U.S. Commodity Futures Trading Commission (CFTC) achieved a landmark year in FY 2024, securing over $17.1 billion in monetary relief, including $2.6 billion in civil penalties and $14.5 billion in restitution. The agency’s groundbreaking actions spanned digital asset (crypto) markets, voluntary carbon credits, and major compliance cases, highlighting its leadership in safeguarding market integrity.

U.S. DOJ’s Whistleblower Pilot Program: 250+ Tips in Just Months!

Whistleblowers are the only effective way to fight financial crime. The U.S. DOJ whistleblower pilot program has already proven effective, generating over 250 tips of potential misconduct since its launch in August, according to Principal Associate Deputy Attorney General Marshall Miller. According to a Reuters report, the initiative targets corporate malfeasance and encourages internal self-disclosure by companies.

Online Gambling: Lokinvestigation in Curaçao, its Maltese Connections, and How to Shut Down!

For many years, the far-far-away Curacao was the regulatory mecca of global online gambling. But that is over. The Lokinvestigation, spearheaded by opposition politician and forensic investigator Dr. Luigi Faneyte, reveals systemic failures and alleged corruption in Curaçao’s online gambling sector. With ties to Maltese investors and global financial networks, the report demands transparency but also carries political implications.

KTM’s Collapse: How Pierer and Blazicek Possibly Misled Investors and Profited Amid a €2.9 Billion Crisis!

The recent insolvency filing by KTM AG, Europe's largest motorcycle manufacturer, has unveiled significant managerial failures under CEO Stefan Pierer and Chairman of the Supervisory Board Josef Blasicek of Pierer Mobility AG. Despite clear indicators of financial distress, the company continued to distribute substantial dividends, misleading investors about its fiscal health. Here is an investor update on the KTM case.

Investor Briefing

Investor Briefing: Why Elon Musk’s SpaceX is valued at $350 Billion!

SpaceX, Elon Musk's private aerospace company, is reportedly in discussions to sell insider shares at a valuation of approximately $350 billion. This would be double what the company was reportedly selling shares at one year ago. In December 2023, Bloomberg reported SpaceX shares were being sold at a $175 billion valuation. Musk's closeness to Trump is apparently paying off.