CFTC v. William S. Evans III (2020)

Settled

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The CFTC announced on January 19, 2022 a consent order in the Eastern District of Kentucky against William Evans and his wife Frances, requiring $16,934,773 in restitution and $10,040,418 in disgorgement and imposing permanent trading and registration bans on Evans.

The record

Structured fields for this action, as recorded in our case library.
Agency	CFTC
Release number	8170-20
Date filed	2020-06-02
Date resolved	2022-01-19
Status	settled
Asset class	futures
Criminal parallel	No
Bars imposed	permanent trading ban, registration ban
Defendants	William S. Evans III (d/b/a Turning Point Investments) (individual) ; Frances Evans (individual)
Techniques

What was ordered

Civil penalty: —
Disgorgement: $10m
Prejudgment interest: —
Total relief: $10m
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 CFTC announced the complaint on June 2, 2020 (release 8170-20) in the Eastern District of Kentucky; the restraining order was signed on May 29. He allegedly promised double-digit profits, hid trading losses, paid some clients non-existent profits in the manner of a Ponzi scheme, and was unregistered.

The Ponzi tag is removed because the complaint charges misappropriation from a trading pool with Ponzi-style payments mentioned in passing. The defendant was recorded as "Kentucky Man"; the two parties are now named.

Outcome. CFTC release 8481-22 (January 19, 2022) reports a consent order for permanent injunction, restitution and disgorgement. Evans must pay restitution of $16,934,773.40, and he and his wife, a relief defendant, must disgorge $10,040,418.44; he is permanently barred from trading and registration. The order states he accepted at least $10.6 million from participants while claiming to trade futures, misappropriated it and paid some participants in a Ponzi-like way. No civil penalty is stated, and the order date is not given, so the release date is used. Restitution is not a separate field here.

Timeline

2020-06-02 CFTC release published
2022-01-19 CFTC announces consent order against William Evans III and Frances Evans

Primary documents

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

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.

Date filed	Agency	Record	Status
2020-06-02	CFTC	CFTC v. William S. Evans III (2020)(this record)	Settled
2022-01-19	CFTC	CFTC v. William S. Evans III (ponzi schemes, 2022)	Judgment entered

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.

Record added September 10, 2026. submit a correction.