Home Regulations CFTC Filed a Suit for Falsified Solicitation of Bitcoin Against Two Scammers

CFTC Filed a Suit for Falsified Solicitation of Bitcoin Against Two Scammers

cftc bitcoin

A press release published Friday revealed that CFTC or Commodity Futures Trading Commission of the US had filed a case against two accused of the purportedly falsified solicitation of Bitcoin.

The U.S. Commodity Futures Trading Commission protest- filed in the United States District Court for the Northern District of Texas- charges the two accused with operating two falsified companies and confusing the community to spend in margined or leveraged foreign currency agreements like diamonds, binary options as well as forex.

Morgan Hunt, the first accused, according to the reliable is from Arlington Texas and he also managed and operated Diamonds Trading Investment House Company. Kim Hecroft is the second accused is from Baltimore, Maryland, and allegedly operated First Options Trading.

Press release published yesterday revealed that the two accused had deceived at least two traders. Their misleading activity was started January last year. The accused had purportedly been offering to spend in trading for the advantage of their patrons through Facebook and email.

Along with the other defendants, the U.S Commodity Futures Trading Commission stated that the accused were pretending to be an investigator of the said government institution, as well as utilizing fake and bogus papers to pretense as the Commodity Futures Trading Commission’s General Counsel with the official logo of the institutions as a part of the fraud.

Despite the fact that the Commodity Futures Trading Commission isn’t truly involved in any activity which involves the collection of tax, the scammers purportedly pretend to be officials of the said government institutions in order to require false tax disbursement on digital currency accounts.

In a protest to the law of court, the U.S Commodity Futures Trading Commission seeks compensation for the swindled and cheated traders and investors, civil financial penalties, disgorgement of dishonest earnings, as well as registration bans and permanent trading and permanent veto from further infringement of Commodity Futures Trading Commission laws as well as the Commodity Exchange Act or CEA.

A few days ago, the federal district court of the United States ruled that a suspected deceitful digital currency token from My Big Coin Pay Company was an article of trade, bringing the suit under the rulings of the Commodity Futures Trading Commission.

On Saturday, September 29, Securities and Exchange Commission or SEC another financial regulator of the United States, charges against 1pool a global dealer for the suspected offering of security-based swaps funded by the BTC.

Read more about:
Share on

Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

Crypto newsletter

Get the latest Crypto & Blockchain News in your inbox.

By clicking Subscribe, you agree to our Privacy Policy.