US Regulator Sues Three Companies For Cryptocurrency Fraud

The U.S. Commodity Futures Trading Commission (CFTC) filed civil enforcement actions in a New York District Court on Thursday against three separate cryptocurrency operators for allegedly defrauding customers and breaking commodity trading rules. The agency proceeded to post details of two of the cases on its website on Friday.

The first case concerns Colorado resident Dillon Michael Dean and his UK-registered company, the Entrepreneurs Headquarters Ltd. They solicited $1.1 million worth of bitcoin from over 600 members of the public from April 2017 to the present, promising to convert them into fiat currency and invest in a pooled investment vehicle such as binary options. Dean claims to have “strong skills” in options trading and customers were promised high rates of return, the CFTC detailed.

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https://news.bitcoin.com/us-regulator-sues-companies-cryptocurrency-fraud/