CFTC v. Raizen Energia SA and Raizen Trading SA (wash trading, 2024)
Judgment entered
Checked against the primary document on October 2, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.
In August 2024, the CFTC settled charges against Raizen Energia SA and Raizen Trading SA, ordering a joint US$750,000 penalty for 44 wash sales and noncompetitive exchange for physical transactions in ICE sugar futures between accounts that were not independently controlled.
The record
| Agency | CFTC |
|---|---|
| Release number | 8946-24 |
| Date filed | 2024-08-19 |
| Date resolved | 2024-08-19 |
| Status | judgment |
| Asset class | futures |
| Venue | ICE |
| Criminal parallel | No |
| Defendants | Raizen Energia SA ; Raizen Trading SA |
| Techniques | Wash trading |
What was ordered
- Civil penalty
- $750k
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- $750k
- Alleged gain
- —
What is alleged to have happened
The Commodity Futures Trading Commission announced this matter on August 19, 2024 as release 8946-24. The respondents named are Raizen Energia SA and Raizen Trading SA (0 individuals, 2 entities).
The order finds that from March to September 2022 the respondents carried out 44 exchange for physical transactions in sugar futures between accounts that were not independently controlled, which made them illegal wash sales. The respondents admit the facts.
This library tags the matter as wash trading, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.
A joint and several $750,000 civil monetary penalty and a cease-and-desist order.
The respondents consented to the order and admitted the facts.
What technique is this, and how does it work?
This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.
- Wash trading — see how it works, what statute it engages, and every other action tagged the same way.
Timeline
- 2024-08-19 CFTC release published
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.
Related actions
Other actions in the library sharing at least one technique tag with this one.