Topic
fraud
23 stories
Texas Trader and His Firm Hit With $13 Million Default Judgment in CFTC Commodities Fraud Case
A federal court entered a default judgment ordering Walter Dunning Larrick III and Cambridge Financial Advisors to pay more than $13 million over a commodities fraud that misappropriated over $3 million from participants.
Court Hits Louisiana Forex Operator With $9.2 Million Penalty in Ponzi-Style Fraud
A federal court ordered Louisiana forex operator Michael DePetrillo and two companies to pay a $9.2 million penalty for a Ponzi-like scheme that misappropriated more than $3 million from retail traders.
Court Orders EminiFX and Founder Eddy Alexandre to Pay $288 Million Over Crypto Ponzi Scheme
A federal court ordered EminiFX and its founder Eddy Alexandre to pay more than $288 million over a crypto and forex Ponzi scheme that took in over $262 million from tens of thousands of investors in eight months.
Brooklyn DA Says It Took Down 112 Servers Behind Crypto Scam Aimed at Russian Speakers
Brooklyn's district attorney said his office and the FBI seized or disrupted 241 web domains and 112 servers tied to a crypto investment scam aimed at Russian speakers in the United States.
Brooklyn DA and FBI pull 241 sites and 112 servers out of a crypto scam aimed at Russian speakers — $300,000 recovered, no arrests
Brooklyn prosecutors and the FBI disrupted 241 websites and 112 servers tied to a crypto investment scam that targeted Russian speakers in the US and allegedly stole tens of millions, seizing about $300,000 so far.
China puts its scam-compound crackdown on screen — with figures only Beijing can vouch for
China's government released a two-hour, three-part documentary on Southeast Asian "pig butchering" scam compounds, touting figures of roughly 100,000 officers deployed and more than 50,000 nationals extradited home.
SEC Charges Meyer Global Management and CEO Over Pre-IPO Fraud Tied to SpaceX Stakes
The SEC sued private fund adviser Meyer Global Management and CEO Owen E.H. Meyer, alleging they defrauded retail investors in funds holding pre-IPO stakes in SpaceX and other companies.
SEC Charges Two Over $8.7M Fraud That Targeted Veterans
The SEC charged Christopher Dinelli and Jacob "Kobe" Frankel with raising over $8.7 million from 35 investors — many of them veterans — via a fund that claimed 153% returns while losing money on options trades.
Court Orders $31 Million-Plus in Fundsz Crypto Fraud Case as CFTC Closes Out 2023 Action
A federal court ordered four defendants tied to the Fundsz crypto and precious-metals scheme to pay and forfeit funds, with two facing a $31.5 million judgment for lying about profits and a "proprietary algorithm.
SEC charges four entities over $15M in fake "AI trading" crypto scams that forged SEC registration
The SEC charged four offshore-linked entities behind two "AI trading" crypto scams that faked SEC registration and stole at least $15.3 million from hundreds of retail investors, many in the U.S.
CFTC Sues Cash FX Group Over Alleged $950M Forex Ponzi That Promised 15% Weekly Returns
The CFTC sued Cash FX Group, its CEO Huascar Jose Lopez Castillo, and three others on September 25, 2026, alleging a $950 million forex Ponzi scheme that promised up to 15% weekly returns and left participants down at least $406 million.
CFTC Wins $6M Default Judgment Against Florida Man Over Options Fraud
A federal court entered a default judgment ordering Michael Frederick Staryk to pay more than $6 million over a commodity options fraud scheme that took money from at least 26 U.S. retail clients.
CFTC Wins $547K in Consent Orders Against Two Salesmen in Commodity Pool Fraud Case
A federal court ordered Steven Likos and Archie Rice to pay a combined $547,261 and banned both from trading over their roles soliciting customers for two commodity pools tied to Traders Domain FX.
SEC Charges Two Bay Area Fund Executives Over $80M Ponzi-Like Scheme
The SEC charged two former Pacific Private Money Group executives with running a Ponzi-like scheme that raised over $80 million from roughly 190 mostly retired investors, with recoverable assets now estimated below $17 million.
SEC charges 38 shell 'advisers' that used its own filing system as a credibility prop
The SEC charged 38 entities on August 27 with filing false Forms ADV — fake Colorado addresses, dead phone numbers and auditors that appear in no accountancy registry — to pose as U.S. investment advisers.
SEC charges New York operator over $74M "pre-IPO" fund scheme built on hidden markups
The SEC sued New York's Andrew Spaventa and three of his firms on Friday, alleging eleven "pre-IPO" funds raised $74 million from 800 retail investors while charging undisclosed markups averaging 46%.
SEC charges three Toms River men over $47 million affinity fraud aimed at Orthodox Jewish investors
The SEC says Leor Moshe raised about $47 million from more than 87 investors for a business-lending fund that mostly wasn't, with two unregistered recruiters bringing in $23 million of it.
CFTC sues Goliath Ventures and its CEO over alleged $397 million crypto Ponzi scheme
The CFTC filed a civil complaint in Florida federal court alleging Goliath Ventures and CEO Christopher Delgado ran a Ponzi scheme that took at least $397 million from roughly 1,600 customers.
SEC charges Adit Ventures and CEO Eric Munson over pre-IPO funds
The SEC on August 10 charged New York adviser Adit Ventures Management, CEO Eric Munson and three affiliated general partners with misappropriating client assets and taking millions in undisclosed fees on pre-IPO deals.
SEC charges pre-IPO fund adviser Adit Ventures and its CEO with fraud; defendants settle without admitting
The SEC says Adit Ventures Management, CEO Eric Munson and three affiliated general partners defrauded investors in SpaceX and Klarna pre-IPO share funds; all settled without admitting the allegations.
Seoul police detain two over fake Flare staking site that took 3.4 million XRP
Seoul police say two men have been detained over a counterfeit Flare Network staking site that took 3.4 million XRP from 71 people, with a third suspect abroad and the total possibly reaching $19 million.
CFTC Sues North Carolina Trader Over Alleged $14M Ponzi-Style Commodity Pool
The CFTC filed a fraud complaint on July 7, 2026 against North Carolina trader Trevor L. Vernon and his firm Argent Capital Management, alleging a $14 million Ponzi-like commodity pool that faked profits from 2022 to 2026.
SEC wins $5.5M default judgment against fake crypto platform NanoBit
A federal judge in Brooklyn entered a $5.5 million default judgment against NanoBit and five co-defendants over a fake crypto trading platform that the SEC says defrauded 18 investors of roughly $1 million.