CFTC v. Kane Capital Investment Group and Amrit Chahal (ponzi schemes, 2018)

Settled

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In April 2018 the CFTC sued The Kane Capital Investment Group and its president Amrit Chahal over an alleged commodity-pool Ponzi scheme. In June 2019 the Eastern District of Virginia entered a consent order against both defendants imposing permanent injunctions and trading and registration bans and requiring $1,232,510.41 in restitution, with Chahal separately sentenced to 30 months in prison.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

—

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 April 12, 2018 in the Eastern District of Virginia, alleges that from January 2015 to December 2017 the defendants used doctored account statements and misrepresentations, commingled funds, and used new deposits to make Ponzi scheme-like payments to some participants and to pay Chahal's personal expenses.

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.

The CFTC's later press release and the court's consent order show how the case ended. The defendants consented to a permanent injunction and other equitable relief, a settlement of all charges without a trial. The order, stamped by the docket on 20 June 2019 and announced on 27 June, bars both from registering with the CFTC and from trading in CFTC-regulated markets and requires restitution of $1,232,510.41, the amount the CFTC says was solicited from about 50 participants. The SEC's parallel release says this restitution was deemed satisfied by the forfeiture order in Chahal's criminal case, where he pleaded guilty and was sentenced to 30 months. No civil monetary penalty appears in the order, and restitution has no dedicated field in this record, so the money fields stay empty.

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. 2018-04-12 CFTC release published
2. 2019-06-20 Consent order for permanent injunction and restitution entered against Kane Capital and Chahal
3. 2019-06-27 CFTC announces the consent order

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 consent order (Kane Capital and Chahal)
• CFTC press release 7948-19

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.