News
CFTC Secures $288 Million Order Against Ponzi Scheme
The Commodity Futures Trading Commission (CFTC) has secured federal court orders requiring a former Long Island, New York, resident and his firm to pay more than $288 million. The case centers on a commodity pool that operated as a Ponzi scheme, soliciting money from investors to pay earlier ones. The orders cover restitution, disgorgement, and civil monetary penalties, totaling over $288 million. The CFTC announced the outcome on October 19, 2026, in Press Release 9311-26.