Washington, D.C. — The Commodity Futures Trading Commission today announced the entry of a consent order in the U.S. District Court for the Eastern District of California imposing restitution and a civil monetary penalty against Eshaq M. Nawabi, d/b/a/ Nawabi Enterprise, and Hyperion Consulting Inc. The order requires the defendants to pay $4.5 million in restitution to victims of the fraud and a $4.5 million civil monetary penalty. According to the CFTC, "Today’s order fully resolves the CFTC action filed on April 26, 2022."

The CFTC also emphasized the challenges in recovering lost funds, stating that "orders requiring repayment of funds to victims may not always result in the recovery of lost money because the wrongdoers may not have sufficient funds or assets." The Division of Enforcement staff assigned to this case includes Sarah Matlack Wastler, James H. Holl, III, Maura Viehmeyer, Erica Bodin, and Rick Glaser.

In light of this case, the CFTC has issued various Fraud Advisories and Articles to educate the public about the warning signs of fraud, particularly in forex trading. The Foreign Currency (Forex) Trading Fraud Advisory highlights ways to spot forex scams and encourages individuals to verify a company's registration with the CFTC before investing funds. The CFTC warns that customers should be cautious when dealing with unregistered entities to mitigate the risk of falling victim to fraudulent schemes.