Topic summary
Commodities fraud
Extracted from the Wikipedia article Fraud.
Commodities fraud
The illegal act of obtaining (or the attempt to obtain) a certain amount of currency in accordance with a contract that promises the later exchange of equated assets, which ultimately never arrive, is a type of fraud, known as commodities fraud. Alternatively, the term can relate to the failure of registering in an exchange, the act of deliberately providing falsified information to clients, the action of executing transactions with the sole purpose of making a profit for the payee, and the theft of client funds.