CFTC v. Garcia, DG Wealth Management, Macroquantum Capital (ponzi schemes, 2015)

Judgment entered

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In April 2015 the CFTC charged Dorian A. Garcia and his companies DG Wealth Management, Macroquantum Capital LLC and UKUSA Currency Fund LP of Naples, Florida with fraud in forex and options pools it alleged he ran as a Ponzi scheme, and obtained an emergency asset freeze. A final judgment entered June 28, 2016 requires $5,051,052 in restitution, a $7.5 million penalty and $4,948,571 in disgorgement, with permanent trading and registration bans; Garcia was sentenced to 78 months in a parallel criminal case.

The record

What was ordered

Civil penalty

$7.5m

Disgorgement

$4.9m

Prejudgment interest

—

Total relief

$12.4m

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The complaint, filed under seal on April 14, 2015 in the Middle District of Florida, alleges that from about May 2010 the defendants solicited roughly $4.7 million from at least 80 customers, falsely promised protected principal, and stole about $2.5 million. The court froze assets and set a hearing for April 29.

The record carried "Florida Resident" and "his Companies" inside a single defendant name.

This library tags the matter as ponzi schemes because the document describes payments to earlier participants made from later participants' money. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

Outcome. The CFTC's July 5, 2016 release says the Middle District of Florida entered a final judgment on June 28, 2016 against Garcia, DG Wealth, Macroquantum, UKUSA and DG Wealth's successor, Quanttra LP, jointly requiring $5,051,052 in restitution, a $7.5 million civil monetary penalty and $4,948,571 in disgorgement. That judgment followed a consent order of November 16, 2015, which made findings of fraud, misappropriation and registration violations and imposed permanent trading and registration bans, and a June 17, 2016 sanctions order entered after a hearing at which the defendants contested the monetary sanctions. The consent order finds Garcia solicited over $7.3 million from at least 95 investors, with a shortfall of about $3.3 million. The release says Garcia's plea agreement on a wire fraud charge was accepted on July 14, 2015 and he was sentenced to 78 months with forfeiture of over $3 million, and that he stipulated to $5,318,052.02 in criminal restitution. The release says the three orders together resolve the case.

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.

• Ponzi schemes — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2015-04-20 CFTC release published
2. 2016-06-28 Final judgment entered (M.D. Fla.): restitution, penalty, disgorgement; announced July 5, 2016

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• CFTC release
• CFTC release 7400-16 (final judgment)

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.