CFTC charges commodity pool operator with misappropriating over $21 million

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/06/CFTC-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="CFTC" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2022/06/CFTC-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/06/CFTC-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/06/CFTC-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/06/CFTC-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/06/CFTC-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/06/CFTC-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/06/CFTC.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><p>The US regulator stated that Ichioka does not contest these claims. The <a href="https://www.leaprate.com/financial-services/fraud/cftc-issues-a-4-7-million-fine-for-fraud-and-registration-violations/" target="_blank" rel="noopener">CFTC</a> is seeking full restitution to defrauded victims, a civil monetary penalty, and permanent trading and registration bans.</p>
<p>Director of Enforcement Ian McGinley, said:</p>
<blockquote><p>The CFTC is committed to aggressively pursuing individuals who defraud public investors in digital assets and retail foreign currency [forex] transactions. The CFTC will strive to hold such wrongdoers fully accountable for their misconduct as we work cooperatively with our law enforcement partners to protect unsuspecting <a href="https://www.leaprate.com/tag/fraud/" target="_blank" rel="noopener">fraud</a> victims.</p></blockquote>
<p>In a parallel suit, Ichioka has criminal charges raised against him including wire fraud, filing false or fraudulent tax returns, and securities and commodities fraud. The Securities and Exchange Commission has also charged him.</p>
<p>Earlier in June, <a href="https://www.leaprate.com/financial-services/fraud/commodity-pool-operator-to-pay-over-24-million-in-forex-fraud-cftc-case/" target="_blank" rel="noopener">another commodity pool operator</a>, Kay Yang (Kay) and her companies, AK Equity Group LLC and Xapphire LLC, was ordered to pay more than $24 million for engaging in retail forex fraud by the the US district court in Wisconsin.</p>
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