CFTC Launches Action against U.K. Firm for Laundering More than 22,800 Bitcoin (BTC)

According to a report by Finance Feeds published on June 18, 2019, the U.S. Commodity Futures Trading Commission (CFTC) has filed a complaint against a U.K.-based firm named Control-Finance Ltd. and its sole Director Benjamin Reynolds.

The regulator reported that they stole more 22,800 bitcoin (approx. $147 million) from customers by guaranteeing them healthy profits on their investments.

Investors Duped of $147 Million Worth of BTC

Per sources close to the matter, the U.S. watchdog filed a complaint with the New York Southern District Court against Control-Finance Ltd. alleging that it defrauded roughly 1,000 customers to launder more than 22,800 bitcoin. The watchdog accused Control-Finance of soliciting investments from customers to fund a Ponzi scheme.

In its complaint, the CFTC…

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