CFTC charges residents of Florida, Louisiana, Arkansas for crypto fraud

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CFTC presses charges against individuals involved in deceptive cryptocurrency scheme.

They inaccurately portrayed Fundsz as a profitable venture, asserting that a $2,500 investment could burgeon into $1 million in just 48 months. Additionally, the accused falsely linked Fundsz to charitable initiatives, capitalizing on the allure of contributing to worthy causes.

The regulatory body also asserts that the defendants managed to entice over 14,000 individuals by creating false weekly returns. Nonetheless, as per the CFTC, the reality is that Fundsz did not actually trade customer funds. The entire venture seems to have been established upon fabricated profits and deceptive assertions.Judge Wendy Berger of the U.S.

 

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