A federal jury convicted two former precious metal traders on charges of (i) fraud, (ii) attempted price manipulation and (iii) spoofing for their involvement in a multi-year market manipulation scheme.
News & Insights
In its 2021 enforcement report based on 2020 data, the North American Securities Administrators Association highlighted an uptick in state enforcement actions related to commodities/precious metals, cybercrime, private offerings and self-directed individual retirement accounts.
The U.S. Court of Appeals for the Ninth Circuit affirmed a preliminary injunction sought by the CFTC in a case involving fraud-related charges against a precious metals credit company.
The CFTC advised retail investors "to research and understand the commodity futures markets, physical markets, and securities markets before trading based on information on social media."
The CFTC and thirty states jointly filed a civil enforcement action for fraud against a precious metals firm and its principals.