CFTC v. Swapnil Rege and SwapStar Capital LLC (2021)

Settled

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In October 2021 the CFTC sued Swapnil Rege and SwapStar Capital for fraudulent solicitation and misappropriation, and Rege for violating a 2019 consent order. CFTC release 8579-22 (September 2, 2022) reports a final judgment and consent order requiring $4,894,225 in disgorgement, $161,335 in interest and a $200,000 penalty, with permanent bans.

The record

Structured fields for this action, as recorded in our case library.
Agency	CFTC
Release number	8454-21
Date filed	2021-10-27
Date resolved	2022-09-02
Court	U.S. District Court, District of New Jersey
Status	settled
Criminal parallel	No
Defendants	Swapnil Rege (individual) ; SwapStar Capital LLC (entity) ; Reema Rege (individual)
Techniques

What was ordered

Civil penalty: $200k
Disgorgement: $4.9m
Prejudgment interest: $161k
Total relief: $5.3m
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 October 27, 2021 (release 8454-21) in the District of New Jersey; Reema Rege was named as a relief defendant. The record had called the status settled before any outcome; it was a new contested complaint.

Outcome: CFTC release 8579-22, dated September 2, 2022, says Judge Zahid Quraishi entered a final judgment and consent order against Rege and SwapStar. It finds fraudulent solicitation and misappropriation and that Rege violated the earlier consent order barring him from trading, imposes permanent trading and registration bans and an injunction, and requires disgorgement of $4,894,225 plus $161,335 prejudgment interest, jointly and severally, and a $200,000 civil monetary penalty. Reema Rege's disgorgement liability is limited to the balances of specified accounts. The release states the order resolves the complaint against all three. The release's date is used as the resolution date because the entry date was not stated in the text read; the order itself was not opened. It also notes the SEC obtained parallel consent judgments.

Timeline

2021-10-27 CFTC release published
2022-09-02 Final judgment and consent order announced (CFTC release 8579-22)

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
2021-10-27	CFTC	CFTC v. Swapnil Rege and SwapStar Capital LLC (2021)(this record)	Settled
2022-09-02	CFTC	CFTC v. Swapnil Rege and SwapStar Capital LLC (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.