CFTC: Federal Court Orders South African CEO to Pay Over $3.4 Billion for Forex Fraud
April 28, 2023
April 28, 2023
WASHINGTON, April 28 -- The Commodity Futures Trading Commission issued the following enforcement news release on April 27, 2023:
The Commodity Futures Trading Commission today announced Judge Lee Yeakel of the U.S. District Court for the Western District of Texas entered an order of default judgment and permanent injunction against Cornelius Johannes Steynberg of Stellenbosch, Western Cape, Republic of South Africa. The order requires Steynberg to pay $1,733,838,372 in restitution . . .
The Commodity Futures Trading Commission today announced Judge Lee Yeakel of the U.S. District Court for the Western District of Texas entered an order of default judgment and permanent injunction against Cornelius Johannes Steynberg of Stellenbosch, Western Cape, Republic of South Africa. The order requires Steynberg to pay $1,733,838,372 in restitution . . .