Florida Judge Orders $31 Million Judgment in Fundsz Crypto Fraud Case

A federal judge in Florida has handed down a $31.48 million judgment against two promoters of the Fundsz platform, Brian Early and Alisha Ann Kingrey, for their role in a cryptocurrency and precious metals trading scheme that defrauded over 9,000 people.

The scheme promised investors returns of more than 3% per week through a proprietary algorithm, but it did not exist. Early and Kingrey served as board members of Fundsz and moderated its Telegram group, giving them direct access to investors.

The court ordered the pair to pay $15.73 million in restitution to defrauded investors and a civil monetary penalty of $15.75 million. They have also been barred from trading and registering with the Commodity Futures Trading Commission (CFTC).