CFTC v. Garcia, DG Wealth Management and Quanttra (ponzi schemes, 2016)

Judgment entered

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In July 2016 the CFTC announced a final judgment in the Middle District of Florida against Dorian Garcia and his companies for a Ponzi scheme from 2010 to 2015, requiring $5.05 million in restitution, a $7.5 million penalty and $4,948,571 in disgorgement. Garcia received 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 June 28, 2016 judgment follows a November 2015 consent order and a June 2016 sanctions order, stemming from the April 2015 complaint that is the other Garcia record in this library. The headline figure of nearly $17.5 million adds restitution, penalty and disgorgement. The record carried a bare place name, "Naples", as the defendant.

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.

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. 2016-07-05 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.

• CFTC release

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.