Category: CFTC

US trial against Serbian boiler room operators and binary options fraudstersU
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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.
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CFTC imposes $29 Million restitution payments in binary options fraudU
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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.
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Law enforcement actions against cybercrime organizations in Israel Cyprus and UkraineB
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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.
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EFRI invstors protection servicesT
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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.
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CFTC fines binary options provider PolymarketU
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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.
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SEC Whistleblower ProgramW
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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.
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CFTC fraud complaint against David CartuW
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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.
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Crypto Bull Market continues despite CFTC orderN
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October 16, 2021

No Impact! CFTC penalizes Tether with $42.5M for their false USDT narrative!

Bitcoin (BTC) broke through the $60,000 mark yesterday with apparent ease despite the apparent realization that Tether has lied to the market about their stablecoin USDT. The U.S. CFTC issued an order simultaneously filing and settling charges against the Tether group of companies d/b/a Tether for making untrue or misleading statements and omissions of material fact in connection with USDT. Some experts believe that this bull leg could take BTC to $100,000 by the end of the year.
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CFTC files complaint against PrimeFXC
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October 4, 2021

CFTC files fraud complaint against PrimeFX scam operators

The U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action against the operators of the PrimeFX fraud scheme, which falsely pretended to be CySEC regulated investment firm. The alleged perpetrators are Uduakobong Udo Inyangudo a/k/a Alexander Uti Bassey, Nigeria, along with the U.S. residents Vanessa B. Okocha, Amen M. Okundaye, Charles A. Ochi, Diego I. Okeh, Daniell N. Liggins, Victor O. Edeh, and Tochukwu Edeh. PrimeFX solicited more than $1.2 million.
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investor warning against IFXTRADES broker scamI
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October 3, 2021

Investor Alert! IFXTRADES broker scam with SecurePayment3D wants your money!

The IFXTRADES crypto broker scam is allegedly operated by Phenix tech Ltd, which has also been related to the Markets Cap scam. Would-be victims of IFTXTRADES can buy Bitcoins (BTC) or Tether (USDT) via credit and debit cards which are then deposited to the scam's wallets. We found SecurePayment3D as the facilitating payment processor. The SecurePayment3D domain is connected iMarketserviceFX, whose operators are being sued and sought by the U.S. regulator CFTC.
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CFTC order against Ronald MontanoU
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September 16, 2021

U.S. CFTC wins court case against fraud affiliate marketing campaigns operator!

The U.S. CFCTC announced that a Florida Court issued an order granting a permanent injunction against Ronald Montano, a resident of St. Cloud, Florida, and Montano Enterprises LLC (MEL), and requiring them to pay a combined $2.5 million in restitution and civil monetary penalty for running fraud marketing campaigns in connection with binary options trading. The CFTC filed a fraud complaint on September 27, 2018, charging Montano and MEL with solicitation a/k/a marketing fraud in connection with binary options trading.
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CFTC complaint against BitMEX and its individualsU
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August 11, 2021

U.S. court orders crypto broker BitMex to pay a $100M penalty to CFTC and FinCEN

The U.S. CFTC and FinCEN announced that the U.S. District Court for the Southern District of New York entered a consent order against five companies charged with operating the BitMEX cryptocurrency derivatives trading platform. The companies are HDR Global Trading Limited, 100x Holding Limited, ABS Global Trading Limited, Shine Effort Inc Limited, and HDR Global Services (Bermuda) Limited. BitMEX has received more than $11 billion in bitcoin deposits and made more than $1 billion in fees.
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