1. Home
  2. Practices
  3. Whistleblower Representation
  4. Recent Government Enforcement
  5. CFTC Enforcement Actions
Have a Claim?

Click here for a confidential contact or call:

1-347-417-2192 
								
			


								
						
			


								
			

	
Whistleblower Quiz

	
Would you blow the whistle?

 Take our Quiz


									
	
						

		

			
			

				

					
CFTC Enforcement Actions

					
The Commodity Futures Trading Commission (CFTC) is the United States agency with primary responsibility for enforcing the Commodity Exchange Act (CEA) and regulating commodity futures and related markets. Whistleblowers with knowledge of violations of laws and regulations enforced by the CFTC can submit a claim under the CFTC Whistleblower Reward Program, and may be eligible to receive a monetary reward and protection against retaliation by employers.


Below are summaries of recent CFTC settlements or successful enforcement actions. If you believe you have information about fraud which could give rise to a CFTC enforcement action and claim under the CFTC Whistleblower Reward Program, please contact us to speak with one of our experienced whistleblower attorneys.

				

			

			
						
					
			

	
		
		

			

				
				
November 21, 2016

				 The CFTC released its annual enforcement results for FY 2016. The CFTC filed sixty-eight enforcement cases and achieved $1.29 billion in monetary sanctions ordered. CFTC also pursued litigation in over one hundred cases. In 2016 the CFTC also issued a whistleblower award of more than $10 million, the largest since the program’s inception in 2010. CFTC				 					 

						
Tagged in:
													  CFTC Whistleblower Reward Program, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
November 17, 2016

				 U.K. resident Navinder Singh Sarao was ordered to pay over $38 million in sanctions and disgorgement to settle allegations that he unlawfully manipulated trading of the E-mini S&P near month futures contract, including on the Flash Crash Day.  CFTC				 					 

						
Tagged in:
													  Fraud in CFTC-Regulated Markets, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
November 16, 2016

				 IB Capital FX, LLC (a/k/a IB Capital FX (NZ) LLP) d/b/a IB Capital, Michel Geurkink, and Emad Echadi, were ordered to pay $35 million in restitution to defrauded customers and a $420,000 civil monetary penalty for soliciting and accepting at least $50 million from approximately 1,850 customers for off-exchange margined retail foreign currency trading without being registered with the CFTC.  CFTC
				 					 

						
Tagged in:
													  Regulatory Violations, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
October 19, 2016

				 The Yorkshire Group, Inc. and its principal Scott Platto were ordered to pay over $1.5 million in penalties and restitution for engaging in an illegal off-exchange precious metals transaction scheme.  CFTC				 					 

						
Tagged in:
													  Regulatory Violations, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
October 12, 2016

				 The CFTC charged Kimball Parker of Lehi, Utah and his company MakeYourFuture, LLC, as well as Timothy Baggett of Lakeland, Florida and his companies Changes Worldwide LLC and Changes Trading LLC, with fraud and failure to make advertising disclosures regarding a futures trading system they sold to customers.  CFTC				 					 

						
Tagged in:
													  CFTC Whistleblower Reward Program, 
													  Fraud in CFTC-Regulated Markets, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
October 4, 2016

				 The CFTC filed a civil enforcement action against Jody Dupont of Anderson, South Carolina, and his company, Open Range Trading LLC, with fraudulently soliciting clients to subscribe to a commodity futures day-trading system, called the Open Range Trading System, and other ancillary trading services that they marketed and sold to clients.  CFTC				 					 

						
Tagged in:
													  Fraud in CFTC-Regulated Markets, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 30, 2016

				 The CFTC charged Joseph Dufresne (a/k/a Joseph James) and Megan Renkow (a/k/a Megan James), both of Palos Verdes Estates, California, and their company, United Business Servicing, Inc. (d/b/a/ SchoolofTrade.com), with fraudulently marketing commodity futures trading strategies and systems.  CFTC				 					 

						
Tagged in:
													  Fraud in CFTC-Regulated Markets, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 30, 2016

				 The CFTC filed a civil enforcement action against Alcibiades Cifuentes and Jennifer Wee Cifuentes, both of West New York, New Jersey, and Cifuentes Fund Management, LLC, alleging the defendants engaged in an off-exchange, leveraged or margined retail foreign currency fraud, commodity pool fraud, and failed to register with the CFTC.  CFTC				 					 

						
Tagged in:
													  Fraud in CFTC-Regulated Markets, 
													  Regulatory Violations, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 29, 2016

				 Angus Partners LLC (d/b/a Angus Energy), a Florida limited liability company with its principal place of business in Fort Lauderdale, Florida, was ordered to pay a $250,000 civil monetary penalty for acting as an unregistered Commodity Trading Advisor and for violating certain disclosure rules applicable to such advisors.  CFTC				 					 

						
Tagged in:
													  Fraud in CFTC-Regulated Markets, 
													  Regulatory Violations, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 29, 2016

				 The CFTC ordered Aden Rusfeldt (a/k/a “Big A”) of Vail, Arizona, to pay over $3.2 million in penalties and restitution for failing to disclose to prospective and current customers of his company, ETF Trend Trading, that he was prohibited by court order from engaging in any commodity-interest related activities.  CFTC				 					 

						
Tagged in:
													  Fraud in CFTC-Regulated Markets, 
													  Misrepresentations, 
													  Regulatory Violations, 
												
						

					
	
							
	
		
		
	


 			


											

						

								

									
1
…
25
26
27
28
29
30
31
…
52
								

						

					

												
		
 
	
 

 



	


	

		

			

								
							
Learn about Whistleblower Rewards Programs
			
	
		

		
	
			

									

													False Claims Act					  							State & Local False Claims Acts					  							SEC Program					  							CFTC Program					  							IRS Program					  					

								See More			
	
		

	
		

	




	


	

		

			

				

					

						
Newsletter

						
Subscribe to receive email updates from the Constantine Cannon blogs

					
	
				
	
			
	
			
	
				
Sign up for: