CFTC Secures $31M Default Judgment in Digital Assets Fraud Case

The Commodity Futures Trading Commission (CFTC) has secured a $31.48 million default judgment in a digital assets and precious metals fraud case against Brian Early and Alisha Ann Kingrey.

The court found that the defendants, as board members and social media moderators of Fundsz, made material misrepresentations about expected profits, risk of loss, and historical trading performance.

The CFTC had initially filed a complaint on August 11, 2023, against six individuals, including Early and Kingrey, for soliciting clients to trade in cryptocurrencies and precious metals through Fundsz.

The court ordered the defendants to pay $15.73 million in restitution and a $15.75 million civil monetary penalty.