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Los Angeles Federal Court Orders Five Individuals to Pay Over $5 Million for Digital Asset Fraud and Misappropriation Scheme

News Corporate Finance & M&A Sanctions & Fines
Date: 11th Dec, 2024 Source: Commodity Futures Trading Commission (CFTC) Country: USA Original Source

Brief

"On December 11, 2024, the Commodity Futures Trading Commission issued an update regarding Los Angeles Federal Court Orders Five Individuals to Pay Over $5 Million for Digital Asset Fraud and Misappropriation Scheme". The court orders find five individuals liable for fraudulently soliciting over $1 million from customers and misappropriating their funds, resulting in a total of $5.2 million in restitution and civil monetary penalties.

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Commodity Futures Trading Commission (CFTC)

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