Tag: CFTC

  • CFTC seeks entry of default towards Lions of Foreign exchange

    The Commodity Futures Buying and selling Fee (CFTC) is pushing for an entry of default in its lawsuit towards Lions of Foreign exchange LLC (LOF). In its movement, filed on December 19, 2023, the regulator explains that the Court docket ought to enter default towards LOF for its failure to reply to the grievance. The…

  • CFTC secures Court docket approval of $2.7bn settlement with Binance

    The Commodity Futures Buying and selling Fee (CFTC) has introduced the Illinois Northern District Court docket has authorised the beforehand introduced settlement and entered a consent order of everlasting injunction, civil financial penalty, and equitable aid in opposition to Changpeng Zhao and his firms Binance Holdings Restricted, Binance Holdings (IE) Restricted, and Binance (Providers) Holdings…

  • CFTC asks Courtroom to impose $8.1M effective on FX and binary choices fraudster Patrick Wonsey

    The Commodity Futures Buying and selling Fee (CFTC) has filed a movement for default judgment in opposition to FX and binary choices fraudster Patrick Wonsey. The CFTC movement, seen by FX Information Group, seeks restitution, civil financial penalty and everlasting injunction in opposition to the defendant. The CFTC requests that the Courtroom order Wonsey to…

  • CFTC in settlement talks with sole remaining defendant in ROFX case

    The Commodity Futures Buying and selling Fee (CFTC) has been engaged in negotiations for partial decision of its motion in opposition to Timothy Stubbs, concerned in fraudulent FX scheme ROFX.web. This turns into clear from paperwork filed by the CFTC with the Florida Southern District Court docket on November 30, 2023. Let’s recall that Stubbs…

  • CFTC amends its grievance in opposition to Logista Advisors

    The Commodity Futures Buying and selling Fee (CFTC) has amended its grievance in opposition to Logista Advisors LLC and its chief govt officer, Andrew Harris Serotta. The amended grievance was filed on November 28, 2023 with the Illinois Northern District Courtroom. The amended grievance alleges that, from not less than in or round January 2020…

  • Former JPMorgan merchants need CFTC motion in opposition to them to stay stayed

    Former JPMorgan merchants Michael Nowak and Gregg Smith have filed a movement to remain an motion introduced by the Commodity Futures Buying and selling Fee (CFTC) in opposition to them. The related paperwork had been submitted on the Illinois Northern District Court docket on November 22, 2023. The merchants be aware that the case must…

  • CFTC pushes for $2.58M tremendous to be imposed on GDLogix operator

    The Commodity Futures Buying and selling Fee’s (CFTC) has filed Movement for Abstract Judgment towards Daniel W. LaMarco, the person behind fraudulent Foreign exchange scheme GDLogix. In keeping with the CFTC’s proposal, LaMarco shall pay a civil financial penalty of $2,587,800, which is the same as thrice LaMarco’s financial acquire of $862,600 from the fraudulent…

  • CFTC seeks Courtroom order of injunction, asset freeze towards My Foreign exchange Funds

    The Commodity Futures Buying and selling Fee (CFTC) has moved the Courtroom for preliminary injunction in its case towards My Foreign exchange Funds. The related paperwork had been submitted on November 9, 2023 within the New Jersey District Courtroom. The CFTC seeks an order persevering with the Courtroom’s Statutory Restraining Order (SRO), in addition to…

  • CFTC secures Court docket order towards Tyche Asset Administration and its principal

    The Commodity Futures Buying and selling Fee (CFTC) has secured a Court docket order towards Chicago-based Tyche Asset Administration, LLC, Phillip Galles, its principal and registered related particular person, in addition to eight different Tyche entities Galles managed. The order imposes a heavy financial penalty on the defendants. The Court docket has restrained the defendants…

  • CFTC secures $2.6M order in opposition to Mark Ramkishun

    The Commodity Futures Buying and selling Fee (CFTC) as we speak introduced the U.S. District Court docket for the Japanese District of New York entered an order of ultimate judgment in opposition to Mark A. Ramkishun, a former resident of Brooklyn, New York. The order resolves the CFTC’s January 9 lawsuit in opposition to Ramkishun…