CFTC Charges 14 Entities For Fraudulently Claiming To Be Registered With The Agency
Date 21/04/2023
The Commodity Futures Trading Commission today announced it has filed charges against 14 entities for fraudulently claiming to be registered with the CFTC as futures commission merchants (FCM) and retail foreign exchange dealers (RFED).
The entities, which claim to be based in the United Kingdom, Sweden, North Dakota, New York, California, and Arkansas, are Betatradeoptions.com, Bitfinmarket.com, Bit Block FXtrades, Bit Trading, Cross Trade FX, Fast Option Subdivision, Garantitrademiness.com, Garantitrademinex.net, Instantearners247.com, Prime Finance Network, Sparkleswhite.com, TFX Trading, Trust Pay Market and Voltfxtrade. Each complaint seeks an order directing the respondent to cease and desist from committing violations of the Commodity Exchange Act (CEA) and CFTC regulations.
“Today’s actions continue to reflect the CFTC’s ongoing efforts to vigorously protect customers and promote market integrity by taking action against bad actors seeking to promote themselves through false claims of registration,” said Director of Enforcement Ian McGinley.
NFA BASIC. More information can be found at cftc.gov/check.
The Division of Enforcement staff members responsible for this case are Christopher Giglio, Elizabeth C. Brennan, David W. Oakland, Lara Turcik, K. Brent Tomer, Lenel Hickson, Jr., and Manal M. Sultan.
RELATED LINKS
Date 21/04/2023
The Commodity Futures Trading Commission today announced it has filed charges against 14 entities for fraudulently claiming to be registered with the CFTC as futures commission merchants (FCM) and retail foreign exchange dealers (RFED).
The entities, which claim to be based in the United Kingdom, Sweden, North Dakota, New York, California, and Arkansas, are Betatradeoptions.com, Bitfinmarket.com, Bit Block FXtrades, Bit Trading, Cross Trade FX, Fast Option Subdivision, Garantitrademiness.com, Garantitrademinex.net, Instantearners247.com, Prime Finance Network, Sparkleswhite.com, TFX Trading, Trust Pay Market and Voltfxtrade. Each complaint seeks an order directing the respondent to cease and desist from committing violations of the Commodity Exchange Act (CEA) and CFTC regulations.
“Today’s actions continue to reflect the CFTC’s ongoing efforts to vigorously protect customers and promote market integrity by taking action against bad actors seeking to promote themselves through false claims of registration,” said Director of Enforcement Ian McGinley.
NFA BASIC. More information can be found at cftc.gov/check.
The Division of Enforcement staff members responsible for this case are Christopher Giglio, Elizabeth C. Brennan, David W. Oakland, Lara Turcik, K. Brent Tomer, Lenel Hickson, Jr., and Manal M. Sultan.
RELATED LINKS
- Complaint: Betatradeoptions.com
- Complaint: Bitfinmarket.com
- Complaint: Cross Trade FX
- Complaint: Bit Trading
- Complaint: Cross Trade FX
- Complaint: Fast Option Subdivision
- Complaint: Garantitrademiness.com
- Complaint: Garantitrademinex.net
- Complaint: Instantearners247.com
- Complaint: Prime Finance Network
- Complaint: Sparkleswhite.com
- Complaint: TFX Trading
- Complaint: Trust Pay Market
- Complaint: Voltfxtrade
