Crypto
CFTC Charges North Carolina-Based Commodity Pool Operator with $14M Fraud
The Commodity Futures Trading Commission (CFTC) has charged a North Carolina-based commodity pool operator and its controlling person with $14 million in fraud and operating a 'Ponzi-like' scheme.
The CFTC alleges that the defendants solicited over $14 million from 60 or more participants between March 2022 and February 2026, promising consistent returns through trading equity index futures, options, and crypto assets.
The complaint claims the defendants fabricated performance and profit results to hide ongoing losses of more than $8.6 million.