Virtual currency and crytocurrency are a types of digital money which are issued and usually controlled by its developers. Several recent court decisions have determined that some forms of virtual currency fraud and cryptocurrency fraud are under the jurisdiction of the Commodities Future Trade Commission. Fraud in the virtual currency market can be the basis for several type of legal action including CFTC Bounty Actions and Investment Fraud Lawsuits. Virtual currency fraud whistleblower lawyer and CFTC Bounty Action Lawyer, Jason S. Coomer, works with investors and financial professionals including commodities fraud whistleblowers and other investment fraud whistleblowers who want to expose significant fraud. In most cases, he is able to perform a confidential review of the fraud and then file an anonymous bounty action on his client's behalf. The benefit of a confidential review and anonymous bounty action filing is that it can protect professionals for potential retaliation. By working with financial with commodities fraud whistleblowers to expose investment fraud, he is working to help regulate the financial markets and help claim rewards for financial whistleblowers.
If you are aware of securities fraud or other financial fraud, please feel free to contact Virtual Currency Fraud Whistleblower Lawyer Jason Coomer via e-mail message or use our submission form about a potential Virtual Currency Fraud Whistleblower Lawsuit, Cryptocurrency Fraud Whistleblower Lawsuit, or other Investment Fraud Lawsuit.
The market for digital coins and tokens is still very young, and there is no widely-accepted standard for placing a value on a particular digital coin or token. This includes coins or tokens sold today with the claim that they can be used to purchase goods, services, or platform access in the future.
Hundreds of different digital coins are being sold for a wide variety of peer-to-peer applications, software platforms, or networks that promise to provide the public with goods and services. These businesses, many still in the proposal stage, may use funds from coin sales to start or grow their ventures. Commonly, a company will also require that its digital coins or tokens be redeemed to purchase its product or service. Even future customers would need to purchase and redeem the digital tokens for access. These offerings may contend that if the product, service, or network becomes more popular, then the digital tokens may increase in value due to a network effect and could be sold to other buyers for a profit. Depending on the facts and circumstances, if initial buyers are told that the developers or promoters will bring them a return on their investments, or if the buyers are promised a share of future returns of the project, the digital coins may be securities and the offer and sale would be subject to federal securities laws. Digital tokens and coins can also be derivatives or commodities, depending on how they are structured.
inancial Fraud Whistleblower Lawsuits, Securities Fraud Whistleblower Lawsuits, Commodity Fraud Whistleblower Lawsuits, Stimulus Fraud Whistleblower Lawsuits, and SEC Violation Whistleblower Lawsuits will become more common with the enactment of laws like the Dodd-Frank Wall Street Reform and Consumer Protection Act that create bounties that can be collected by whistleblowers that properly report SEC violations, financial fraud, securities fraud, commodities fraud, and stimulus fraud that result in monetary sanctions over one million dollars ($1,000,000.00). The SEC can award the whistleblower up to 30% of the money collected.
By creating whistleblower bounties for investors and people with specific information of financial fraud, it is expected that hard to detect financial fraud including derivative market fraud and investment fraud will be exposed to help regulate the financial market and prevent large investment corporations, banks, hedge funds, and other large corporations from committing financial fraud of billions of dollars.
For more information on SEC Fraud Whistleblower Bounty Actions and Securities Fraud Whistleblower Bounty Actions, please go to the following Securities Fraud Whistleblower Lawyer SEC Bounty Actions.
Monitoring the commodity futures market requires a highly coordinated effort including the efforts of investors. It is important that investors that are aware of illegal activities in the commodity futures market step forward and blow the whistle on illegal actions. Some of these actions include the following:
If you are aware of these actions being committed it is important that you blow the whistle on these actions. There are several ways to blow the whistle on these actions including anonymous reporting procedures through an attorney.
A futures contract is an agreement to buy or sell in the future a specific quantity of a commodity at a specific price. Most futures contracts contemplate actual delivery of the commodity can take place to fulfill the contract. However, some futures contracts require cash settlement in lieu of delivery, and most contracts are liquidated before the delivery date. An option on a commodity futures contract gives the buyer of the option the right to convert the option into a futures contract. Futures and options must be executed on the floor of a commodity exchange with very limited exceptions and through persons and firms who are registered with the CFTC.
Congress created the Commodity Futures Trading Commission (CFTC) in 1974 as an independent agency with the mandate to regulate commodity futures and option markets in the United States. The agency's mandate has been renewed and expanded several times since then, most recently by the Commodity Futures Modernization Act of 2000. The CFTC's mission is to protect market users and the public from fraud, manipulation, and abusive practices related to the sale of commodity and financial futures and options, and to foster open, competitive, and financially sound futures and option markets.
The CFTC is the Federal agency that regulates the trading of commodity futures and options contracts in the United States and takes action against firms suspected of illegally or fraudulently selling commodity futures and options.
Commodity pool operators often solicit investments from friends, neighbors, co-workers, and fellow religious or social group members by using their reputations in the community or their personal relationships. In many cases, however, these investment schemes turn out to be fraudulent, and you can lose your entire investment, in many cases as a result of outright theft.
Individuals and firms that fraudulently solicit funds from investors for commodity futures and options trading are usually not registered with the CFTC. They may operate “Ponzi” schemes in which little or none of the money sent in by investors is ever invested as promised in the commodity markets. Instead, the operator of the scam steals the funds, and creates the illusion of a successful business by using some of the money put in by later investors to pay phony "profits" to earlier investors. This tactic makes it appear to investors that the investment is actually making money, which in turn attracts additional investors. Be wary of such payouts if you do not fully understand their source.
CFTC bounty claims like SEC bounty claims must be brought voluntarily under the Bounty Programs by one or more individuals. The whistleblower or whistleblowers must be a natural person or natural persons, companies or other entity is not eligible to be financial fraud bounty whistleblowers. Successful CFTC and SEC violation bounty whistleblowers can collect financial rewards for whistleblower bounty actions that result in the imposition of monetary sanctions of greater than $1 million dollars.
Through CFTC and SEC Whistleblower Bounty Actions the CFTC and SEC will award between ten percent and thirty percent of the money collected to a qualified whistleblower who voluntarily provides the CFTC and SEC with original information about a violation of the securities laws that leads to a successful enforcement of an action brought by the CFTC and SEC that results in monetary sanctions exceeding $1,000,000.00.
As a Commodity Futures Investment Fraud Whistleblower Lawyer and Securities Fraud Whistleblower Lawyer, Jason S. Coomer commonly works with other powerful financial fraud and securities fraud whistleblower lawyers to handle large Securities Fraud Whistleblower Lawsuits, Securities Fraud Bounty Actions, Commodity Futures Fraud Bounty Action, and other Financial Fraud and Investment Fraud Lawsuits. He also works on Medicare Fraud Whistleblower Lawsuits , Defense Contractor Fraud Whistleblower Lawsuits, Stimulus Fraud Whistleblower Lawsuits, Government Contractor Fraud Whistleblower Lawsuits, and other government fraud whistleblower lawsuits.
If you are the original source with special knowledge of fraud and are interested in learning more about a whistleblower lawsuit, please feel free to contact Commodity Futures Fraud Whistleblower Lawyer and Securities Fraud Whistleblower Lawyer Jason Coomer via e-mail message.