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Category: CFTC

January 10, 2023

DeFi Crypto Fraud Scheme Operator Faces Criminal And Regulatory Charges!

The U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action charging Avraham Eisenberg with running a fraudulent and manipulative trading scheme on Mango Markets to unlawfully obtain over $110 million in crypto assets from a purported decentralized digital asset exchange. This is the CFTC’s first enforcement action for a fraudulent or manipulative scheme involving trading on a supposed decentralized crypto asset platform.

December 22, 2022

U.S. Regulators & Prosecutors Charge FTX Executives Caroline Ellison And Gary Wang!

The U.S Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Department of Justice (DOJ) charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX), for their roles in fraudulent FTX crypt scheme co-founded by Sam Bankman-Fried (SBF) and Wang. Ellison and Wang pleaded guilty to the criminal charges and cooperate with the authorities.

December 16, 2022

FTX Fraud Case: Corrupted US Regulators?

Influential members of the crypto community on Twitter have been among the harshest critics of Sam Bankman-Fried (SBF) and his FTX crypto exchange for years. We know that FTX misused up to $8 billion in customer funds before filing for Chapter 11 bankruptcy. A significant portion of the misused funds was used to corrupt politicians, celebrities, and the media. While the FTX fraud unfolded, U.S. regulators allegedly stood by and watched, Twitter users expose.

November 24, 2022

The Red Listed Former Binary Options Scam YesOption And Its New Life!

YesOption was one of the infamous Israeli Binary Options scams operated through Diamond Global Ltd in the Marshall Islands. Payment services were processed through Global Online Solutions Ltd in the UK. One of the payment processors was Cyprus-regulated PowerCash21 (now Payabl). In 2015, the U.S. CFTC placed YesOption on its red list. Today YesOption.com is operated as a broker review platform and as an IB for other brokers like IQ Option or Olymp Trade.

July 28, 2022

Breaking News – OSC Orders Cartu Brothers To Pay Millions In Fines And Disgorgement!

The dual Canadian-Israeli Cartu Brothers - David Cartu, Joshua Cartu, and Jonathan Cartu - have been notorious for their fraudulent binary options schemes around the Irish GreyMountain Management Ltd (GMM) and other entities across different jurisdictions. In Sept 2020, the U.S. CFTC filed a fraud complaint; the Canadian OSC has accused them of illegal and fraudulent brokerage. In May 2021, OSC settled with David Cartu, who agreed to a seven-year ban and a CAD 300,000 penalty. Now, Ontario's Capital Markets Tribunal ordered Jonathan Cartu and Joshua Cartu to pay CAD 3.3 million.

July 25, 2022

U.S. Court Convicted Operator Of Crypto Fraud Scheme ‘My Big Coin’

In the U.S., a federal jury convicted the New York resident Randall Crater, 51, last week concerning the My Big Coin crypto scheme to defraud investors. According to court documents and evidence presented at trial, he founded My Big Coin Pay Inc. d/b/a My Big Coin, a purported crypto and virtual payment services company, and offered virtual payment services through the My Big Coins cryptocurrency. The scheme falsely claimed that these coins were backed by $300 million in gold, oil, and other valuable assets.

July 18, 2022

US CFTC Imposes Over $29 Million In Restitution For Binary Options Fraud!

The U.S. Commodity Futures Trading Commission (CFTC) announced that the U.S. District Court for the Eastern District of California entered an order granting the CFTC’s motion for entry of default judgment against California-based John D. Black and other participants in his binary options scheme. Between 2015 and 2020 the scheme operated fraudulent binary options and forex commodity pools, misappropriated millions of dollars of those funds for personal use, and made Ponzi payments to existing pool participants with new pool participants’ funds.

July 2, 2022

Breaking News! Israeli-Canadian Cartu Brothers Allegedly Arrested In UAE!

We recently reported on a new lawsuit filed by victims against the missing binary options scheme centered around the notorious Cartu Brothers and GreyMountain Management (GMM) in Ireland. The multi-million dollar lawsuit was brought against David Cartu and Jonathan Cartu, as well as GMM directors Ryan Coates and Liam Grainger. The U.S. CFTC also has a fraud lawsuit pending. Reportedly, David Cartu and Jonathan Cartu (but not Joshua Cartu) were arrested in UAB on a Red Interpol warrant. A whistleblower has just told us this. We would like to know more.

June 29, 2022

The Cartu Brothers And Their Directors Sued In Ireland Over Alleged Binary Options Fraud!

The Canadian-Israeli brothers David Cartu and Jonathan Cartu, together with Joshua Cartu, are at the very center of a gigantic binary options fraud scheme around the Irish GreyMountain Management Ltd. The Irish Times reports that the Florida-based investor William Thomas Powers and more than 30 other investors sue David Cartu, Jonathan Cartu, and the former Irish directors Ryan Coates and Liam Grainger over more than $4 million in losses. GreyMountain Management Ltd was wound up. The court case started on 28 June 2022 before Justice Michael Twomey.

January 4, 2022

U.S. CFTC orders blockchain-based binary options markets operator to pay $1.4M penalty

The U.S. CFTC ordered Delaware-registered Blockratize, Inc. d/b/a Polymarket, based in New York City, to pay a $1.4 million civil monetary penalty. Polymarket operated off-exchange event-based binary options and failure to obtain designation as a designated contract market (DCM) or registration as a swap execution facility (SEF) and did not comply with the Commodity Exchange Act (CEA) and applicable CFTC regulations. Polymarket was ordered to cease and desist from violating the CEA and CFTC regulations.

CFTC

October 22, 2021

Wow! CFTC awarded record-breaking $200 million to whistleblower

Whistleblowers are the most potent weapon of law enforcement and regulators. The U.S. Commodity Futures Trading Commission (CFTC) announced an award of nearly $200 million to a whistleblower whose specific, credible, and timely original information significantly contributed to an already open investigation and led to successful enforcement action well as to the success of two related actions. The whistleblower’s information led the CFTC to substantial, direct evidence of wrongdoing.

CFTC
OSC

October 21, 2021

Whistleblower campaign – U.S. and Canada authorities search for Cartu Brothers!

The Israeli-Canadian Cartu Brothers - David Cartu, Joshua Cartu, and Jonathan Cartu - are notorious binary options scammers and are in big trouble with regulators and law enforcement agencies in the U.S. and Canada. In Toronto, the Ontario Securities Commission (OSC) has brought a fraud complaint against the brothers. The U.S.CFCT has also sued the brothers for alleged binary options fraud in Texas. David Cartu is also notorious for his proximity to Wirecard. Insiders claim he was a major Wirecard shareholder.