CFTC Secures $31M Order Against Duo in Crypto Fraud Scheme

The Commodity Futures Trading Commission (CFTC) has secured a court order against defendants Brian Early and Alisha Ann Kingrey, requiring them to pay over $31 million in restitution and penalties for their involvement in a crypto and precious metals fraud.

The scheme, which involved the unincorporated Fundsz entity and its website, targeted investors with false promises of high returns and transparency. As board members and social media moderators, Early and Kingrey made material misrepresentations about Fundsz's expected profits, risk of loss, and historical trading performance.

When faced with the CFTC investigation, they attempted to backtrack on their claims and eliminate Fundsz's online presence. However, the court found them liable for their actions and permanently enjoined them from further violations of the Commodity Exchange Act and CFTC regulations.