{
  "source": "Global Trading Outlook, https://www.globaltradingoutlook.com/enforcement/",
  "note": "Charges are allegations until a court or regulator decides them. Each entry links to the regulator's own announcement.",
  "actions": [
    {
      "date": "2026-10-21",
      "regulator": "FCA",
      "subject": "Jeffrey Dawkins and Kadir Kanizi",
      "action": "Ban",
      "status": "In force",
      "amount": "Fine of nearly £270,000 (Dawkins); £20,000 penalty (Kanizi), not enforced if paid to Vector Wealth's liquidators; investor losses expected at about £4 million",
      "markets": [
        "stocks"
      ],
      "summary": "The FCA banned Vector Wealth's former chief executive for dishonestly fronting for a disqualified director who used the firm to sell mini-bonds, and banned a former senior manager from senior management roles.",
      "source": "https://www.fca.org.uk/news/press-releases/former-chief-executive-banned-after-misconduct-led-4m-losses-high-risk-investments",
      "article": "https://www.globaltradingoutlook.com/brokers/fca-bans-vector-wealth-ceo-dawkins-front-disqualified-director/",
      "regulatorName": "UK Financial Conduct Authority",
      "country": "United Kingdom"
    },
    {
      "date": "2026-10-21",
      "regulator": "CFTC",
      "subject": "Michael B. DePetrillo, Meteor LLC and NOLA FX Capital Management LLC",
      "action": "Court judgment",
      "status": "Resolved",
      "amount": "$9,211,492 civil monetary penalty; more than $3 million misappropriated from participants",
      "markets": [
        "fx"
      ],
      "summary": "A Louisiana federal court entered a default judgment finding the defendants ran a fraudulent retail forex scheme, with permanent trading and registration bans.",
      "source": "https://www.cftc.gov/PressRoom/PressReleases/9313-26",
      "article": "https://www.globaltradingoutlook.com/traders-educators/cftc-nola-fx-depetrillo-default-judgment-forex-fraud/",
      "regulatorName": "US Commodity Futures Trading Commission",
      "country": "United States"
    },
    {
      "date": "2026-10-21",
      "regulator": "SEC",
      "subject": "Benjamin Conde",
      "action": "Settlement",
      "status": "Resolved",
      "amount": "$1,097,800 disgorgement plus $1,681,021.69 prejudgment interest, deemed satisfied by criminal orders (proposed)",
      "markets": [
        "stocks"
      ],
      "summary": "The SEC filed a consented proposed final judgment, including a penny stock bar, over an alleged 2017 scheme to manipulate Renewable Energy and Power shares.",
      "source": "https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26677",
      "article": "https://www.globaltradingoutlook.com/traders-educators/sec-final-judgment-conde-penny-stock-manipulation-rbnw/",
      "regulatorName": "US Securities and Exchange Commission",
      "country": "United States"
    },
    {
      "date": "2026-10-20",
      "regulator": "SEC",
      "subject": "Siddhi Patel, as Administrator of the Estate of Chirayu Vijay Patel",
      "action": "Settlement",
      "status": "Resolved",
      "amount": "$1,204,597.77 disgorgement plus $198,497.46 prejudgment interest (proposed); about $10 million pooled from investors (alleged)",
      "markets": [
        "stocks"
      ],
      "summary": "The SEC filed settled charges against the estate of a fund manager it alleges misled more than 40 investors, made Ponzi-like payments and lost over $7 million trading.",
      "source": "https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26676",
      "article": "https://www.globaltradingoutlook.com/traders-educators/sec-settles-patel-estate-fund-manager-trading-losses-ponzi-like-payments/",
      "regulatorName": "US Securities and Exchange Commission",
      "country": "United States"
    },
    {
      "date": "2026-10-19",
      "regulator": "CFTC",
      "subject": "Eddy Alexandre and EminiFX Inc.",
      "action": "Court judgment",
      "status": "Resolved",
      "amount": "$228,576,962 restitution, $45,148,500 civil monetary penalty and $15,049,500 disgorgement (offset by restitution paid)",
      "markets": [
        "crypto",
        "fx"
      ],
      "summary": "A New York federal court granted the CFTC summary judgment against EminiFX and its founder, finding that the crypto and forex investment club was a Ponzi scheme.",
      "source": "https://www.cftc.gov/PressRoom/PressReleases/9311-26",
      "article": "https://www.globaltradingoutlook.com/traders-educators/cftc-eminifx-court-orders-288-million-commodity-pool-ponzi/",
      "regulatorName": "US Commodity Futures Trading Commission",
      "country": "United States"
    },
    {
      "date": "2026-10-16",
      "regulator": "CySEC",
      "subject": "Titanedge Securities Ltd",
      "action": "Fine",
      "status": "Resolved",
      "amount": "€100,000 total administrative fine (€40,000, €30,000 and €30,000)",
      "markets": [
        "stocks"
      ],
      "summary": "CySEC fined the Cyprus Investment Firm for misleading client information, giving investment advice without authorisation and lacking adequate compliance procedures in 2023 and 2024.",
      "source": "https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=adb60b80-ac21-4bdd-a330-256125d3c20e",
      "article": "https://www.globaltradingoutlook.com/brokers/cysec-fines-titanedge-securities-100000-misleading-information/",
      "regulatorName": "Cyprus Securities and Exchange Commission",
      "country": "Cyprus"
    },
    {
      "date": "2026-10-09",
      "regulator": "SEC",
      "subject": "William Sarris and Joseph Endoso, former Linqto executives",
      "action": "Charges",
      "status": "Alleged",
      "amount": "Over $430 million of pre-IPO investment vehicles sold, 2021 to 2024 (alleged)",
      "markets": [
        "stocks"
      ],
      "summary": "The SEC alleges the two misled retail investors who bought pre-IPO special purpose vehicles through Linqto's online platform.",
      "source": "https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26672",
      "article": "https://www.globaltradingoutlook.com/brokers/sec-charges-former-linqto-executives-pre-ipo-platform/",
      "regulatorName": "US Securities and Exchange Commission",
      "country": "United States"
    },
    {
      "date": "2026-10-08",
      "regulator": "SEC",
      "subject": "Francis Biller, Chester Alvarez, Troy Gran-Brooks, Justin Plaizier and Raymond Dove",
      "action": "Court judgment",
      "status": "Resolved",
      "amount": "More than $58 million in trading proceeds (alleged); orders include $8,392,982 against Biller and $2,923,446 plus a $1,655,157 penalty against Dove",
      "markets": [
        "stocks"
      ],
      "summary": "Final judgments and penny stock bars against five defendants in an alleged microcap boiler-room scheme.",
      "source": "https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26670",
      "article": "https://www.globaltradingoutlook.com/traders-educators/sec-final-judgments-microcap-boiler-room-penny-stock-bars/",
      "regulatorName": "US Securities and Exchange Commission",
      "country": "United States"
    },
    {
      "date": "2026-09-30",
      "regulator": "SEC",
      "subject": "Christopher Kenji Dinelli and Jacob David Frankel",
      "action": "Charges",
      "status": "Alleged",
      "amount": "More than $8.7 million raised from 35 investors",
      "markets": [
        "derivatives",
        "stocks"
      ],
      "summary": "The SEC alleges the pair claimed returns of up to 153% for an options trading fund aimed at veterans that kept losing money, and misappropriated investor funds.",
      "source": "https://www.sec.gov/newsroom/press-releases/2026-97-sec-charges-two-individuals-orchestrating-fraud-scheme-targeted-veterans",
      "article": "https://www.globaltradingoutlook.com/traders-educators/sec-charges-dinelli-frankel-options-fund-fraud-veterans/",
      "regulatorName": "US Securities and Exchange Commission",
      "country": "United States"
    },
    {
      "date": "2026-09-30",
      "regulator": "CFTC",
      "subject": "Fundsz promoters Brian Early and Alisha Ann Kingrey; consent orders against Rene Larralde's estate and Juan Pablo Valcarce",
      "action": "Court judgment",
      "status": "Resolved",
      "amount": "$15,732,455 restitution and a $15,752,455 civil monetary penalty against Early and Kingrey",
      "markets": [
        "crypto",
        "metals"
      ],
      "summary": "A Florida federal court resolved the CFTC's remaining claims over Fundsz, a scheme that took money for digital assets and precious metals trading.",
      "source": "https://www.cftc.gov/PressRoom/PressReleases/9305-26",
      "article": "https://www.globaltradingoutlook.com/brokers/cftc-fundsz-court-orders-31-million-digital-assets-precious-metals-fraud/",
      "regulatorName": "US Commodity Futures Trading Commission",
      "country": "United States"
    },
    {
      "date": "2026-09-30",
      "regulator": "SEC",
      "subject": "BitConnect promoters Michael Noble, Craig Grant and Trevon Brown",
      "action": "Court judgment",
      "status": "Resolved",
      "amount": "Largest single order: $2,680,732.84 (Craig Grant)",
      "markets": [
        "crypto"
      ],
      "summary": "A New York federal court ordered three BitConnect promoters to pay disgorgement, interest and civil penalties.",
      "source": "https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26660",
      "article": "https://www.globaltradingoutlook.com/traders-educators/sec-judgments-bitconnect-promoters-noble-grant-brown/",
      "regulatorName": "US Securities and Exchange Commission",
      "country": "United States"
    },
    {
      "date": "2026-09-29",
      "regulator": "SEC",
      "subject": "Cryptoaiml and TSAI entities (four entities)",
      "action": "Charges",
      "status": "Alleged",
      "amount": "More than $12.5 million (Cryptoaiml) and $2.8 million (TSAI) allegedly misappropriated",
      "markets": [
        "crypto",
        "stocks"
      ],
      "summary": "The SEC alleges fake trading platforms, bogus AI signals and bots, and forged SEC filings were used to take money from hundreds of retail investors through WhatsApp and other platforms.",
      "source": "https://www.sec.gov/newsroom/press-releases/2026-95-sec-charges-multiple-entities-fraud-schemes-totaling-least-15-million-used-whatsapp-other-platforms",
      "article": "https://www.globaltradingoutlook.com/traders-educators/sec-charges-cryptoaiml-tsai-whatsapp-ai-trading-scams/",
      "regulatorName": "US Securities and Exchange Commission",
      "country": "United States"
    },
    {
      "date": "2026-09-28",
      "regulator": "FCA",
      "subject": "Raymondip Bedi and Patrick Mavanga",
      "action": "Confiscation order",
      "status": "Resolved",
      "amount": "£603,404.28 (Bedi) and £247,997.99 (Mavanga); investor losses of £1,541,799",
      "markets": [
        "crypto"
      ],
      "summary": "Southwark Crown Court ordered two men convicted over a crypto investment fraud to pay; the FCA says the money will go back to victims.",
      "source": "https://www.fca.org.uk/news/press-releases/fca-secures-money-back-victims-crypto-fraud",
      "article": "https://www.globaltradingoutlook.com/traders-educators/fca-confiscation-orders-bedi-mavanga-crypto-fraud/",
      "regulatorName": "UK Financial Conduct Authority",
      "country": "United Kingdom"
    },
    {
      "date": "2026-09-25",
      "regulator": "CFTC",
      "subject": "Cash FX Group S.A., its CEO Huascar Jose Lopez Castillo, and three others",
      "action": "Charges",
      "status": "Alleged",
      "amount": "Over $950 million solicited; participant losses of at least $406 million (alleged)",
      "markets": [
        "fx"
      ],
      "summary": "The CFTC alleges a multilevel-marketing forex pool promised up to 15% a week from expert, algorithmic and AI trading.",
      "source": "https://www.cftc.gov/PressRoom/PressReleases/9304-26",
      "article": "https://www.globaltradingoutlook.com/brokers/cftc-charges-cash-fx-group-950-million-fraud-scheme-2026/",
      "regulatorName": "US Commodity Futures Trading Commission",
      "country": "United States"
    },
    {
      "date": "2026-09-17",
      "regulator": "OFAC",
      "subject": "BitBank, its developer Pishtaz Simorgh Electronic Trade Company, and three associates of Babak Zanjani",
      "action": "Sanctions",
      "status": "In force",
      "markets": [
        "crypto"
      ],
      "summary": "OFAC sanctioned an Iranian crypto exchange it says moved hundreds of millions of dollars in Bitcoin to the IRGC.",
      "source": "https://home.treasury.gov/news/press-releases/sb0632",
      "article": "https://www.globaltradingoutlook.com/liquidity-tech/treasury-ofac-bitbank-iran-digital-asset-exchange-sanctions-2026/",
      "regulatorName": "US Treasury, Office of Foreign Assets Control",
      "country": "United States"
    }
  ]
}