• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

CFTC Imposes $36 Million Penalty on William Ichioka for Currency and Digital Asset Fraud

user avatar

by Giorgi Kostiuk

10 months ago


  1. Case Initiation
  2. Court Proceedings
  3. Verdict and Consequences

  4. The US Commodity Futures Trading Commission (CFTC) has secured a $36 million penalty against William Koo Ichioka for currency and digital asset fraud.

    Case Initiation

    The case, initiated in June 2023, encompassed accusations of wire fraud, fraudulent tax returns, and stocks and commodities fraud. The CFTC determined that Ichioka allocated a significant portion of the monies for personal expenditures, encompassing luxury goods and lavish acquisitions.

    Court Proceedings

    To sustain his deceitful enterprise, he fabricated account statements and distorted asset valuations. In August 2023, the court imposed an injunction prohibiting him from participating in CFTC-regulated markets and contravening Commodity Exchange Act regulations.

    Verdict and Consequences

    One year later, Judge Vince Chhabria decreed that Ichioka is obligated to pay $36 million, comprising $31 million in restitution to victims and $5 million as a civil penalty. He received a sentence of 48 months in incarceration and five years of supervised release. In 2023, losses from cryptocurrency fraud surged by 45%, amounting to billions overall.

    The CFTC continues its active fight against financial frauds, evidenced by hefty fines and severe penalties for offenders.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Trends in the Crypto Market: Litecoin Eyes $97.10, Ethereum Faces Pressure, BlockDAG Active

chest

Analysis of key price levels for Litecoin and Ethereum, as well as new strategies within BlockDAG in the crypto market.

user avatarGiorgi Kostiuk

Trump-Huang Meeting: A Pivotal Moment for Nvidia Ahead of China Engagement

chest

Jensen Huang from Nvidia will discuss important matters with Donald Trump before heading to China amid rising tech competition.

user avatarGiorgi Kostiuk

Bitcoin to Hit $220,000 by 2025, Says Max Keiser

chest

Max Keiser's prediction of Bitcoin reaching $220,000 by the end of 2025 draws investor interest and highlights its growing influence on financial markets.

user avatarGiorgi Kostiuk

Unconfirmed Claims of Tariffs by Trump Leave Crypto Market Stable

chest

Despite rumors of a 35% tariff on Canadian imports, the cryptocurrency market, including Ethereum and Bitcoin, remains stable.

user avatarGiorgi Kostiuk

Cookie DAO: Token Burn Leads to Significant Rise in COOKIE Price

chest

Cookie DAO initiates token burn, impacting COOKIE price and attracting investor interest.

user avatarGiorgi Kostiuk

Louis Limited to Launch New Emotional Tracking App for Traders

chest

Louis Limited launches a new app to help traders manage their emotions and improve discipline in trading.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.