CFTC v. Dominick Vincent Carducci and VOS Capital Management, LLC (2019)

Judgment entered

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In September 2019 the CFTC sued Dominick Carducci and VOS Capital Management of South Carolina, alleging a forex pool fraud that misappropriated over $1.1 million. On 23 June 2020 a New York federal court entered a default judgment requiring $953,875 in restitution and a civil penalty the CFTC puts at over $2.86 million, with permanent trading and registration bans. Carducci was sentenced to 24 months in prison in a parallel criminal case.

The record

What was ordered

Civil penalty

$2.9m

Disgorgement

—

Prejudgment interest

—

Total relief

$2.9m

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 September 9, 2019 (release 8004-19) in the Southern District of New York. It alleged promised returns of up to 18% a month and false claims of $12 million under management, with misappropriation of over $1.1 million for travel, cars and student loans. Part of the money went to pool participants in the style of a Ponzi scheme.

Outcome. The CFTC's August 2020 release says the court entered a default judgment on 23 June 2020, treating the failure to respond as an admission of the complaint's allegations. The judgment requires $953,875 in restitution and a civil monetary penalty the release gives as over $2.86 million (recorded here as $2,860,000, so the exact figure may be slightly higher), and imposes permanent trading and registration bans and an injunction. The release also says Carducci pleaded guilty in a parallel case in South Carolina and was sentenced on 19 June 2020 to 24 months in prison and over $950,000 in restitution. The civil judgment is a default judgment, not a decision after trial.

Timeline

1. 2019-09-09 CFTC release published
2. 2020-06-23 Default judgment entered against Carducci and VOS Capital: restitution, penalty, permanent trading and registration bans

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 press release 8217-20 (default 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.

Record added September 10, 2026. submit a correction.