Action against Respondent, a former virtual currency trader, for an alleged investment scheme and misappropriation of his employer’s virtual currencies. According to the CFTC, Respondent misappropriated Bitcoin and Litecoin from the trading firm where he worked. The CFTC further alleges that Respondent falsely solicited investors for funds that he then lost by executing high-risk virtual currency trades. Respondent has agreed to pay restitution of $1,146,000 and post-judgment interest and to permanent trading and registration bars. Respondent has also pleaded guilty to parallel criminal charges.

CFTC Press Release

CFTC Order