The Commodity Futures Trading Commission (CFTC) today announced Judge Vince Chhabria of the U.S. District Court for the Northern District of California entered an order September 19 assessing monetary relief totaling over $36 million against William Koo Ichioka, a New York resident formerly of San Francisco.
The order requires Ichioka to pay $31 million in restitution to defrauded victims and a $5 million civil monetary penalty in connection with his fraudulent Forex and digital asset fraud scheme.
On August 14, 2023, the court entered an initial consent order of permanent injunction against Ichioka, prohibiting him from future violations of the Commodity Exchange Act (CEA) and CFTC regulations and banning him from trading in any CFTC-regulated markets and from registering with the CFTC. This initial consent order and the order entering monetary…
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