The organizer of the cryptocurrency pyramid Control Finance will pay $572 million – Bits Media

The District Court of the Southern District of New York ordered the organizer of the cryptocurrency fraudulent scheme Control Finance to pay $143 million compensation for losses andmeant a fine in the amount $429 million.

Also in 2019 year Commission for Trade Futures of the United States (CFTC) sued Benjamin Reynolds (Benjamin Reynolds) From Great Britain, Having accused him of creating a fraudulent scheme for bitcoin trade. However, the accused never once appeared at court meetings, Therefore, the decision was made without its presence.

CFTC accused Reynolds of using a website, social networks and advertising using e -mail to attract customers to your company Control Finance. In advertising, the founder of the scheme promised a profit from trade in cryptocurrencies and said, that the company is working as a whole state of traders. He managed to collect 22 190.5 BTC, What was at that time $143 million.

According to the regulator, Reynolds did not make transactions in favor of customers, And he left all the deposits for himself. He told CFTC representatives, what will return bitcoins to customers, However, he didn't even do it. In addition to compensation and fines, the court forbade Reynolds to trade in the markets, adjustable CFTC, or register any companies from the regulator.

Recall, that recently the Texas regulator has banned the activities of the Delta Crypt Limited fraudulent company, which was masked under the cryptocurrency exchange of Binance.