Action against Defendants, traders and portfolio managers, for an alleged fraudulent investment scheme. According to the CFTC, Defendants solicited Bitcoin from investors and falsely claimed they would use the funds for their investors’ benefit. The CFTC also alleges that Defendants misrepresented their experience and track records and misappropriated investor funds. The court ordered that Defendant Hunt pay restitution of $3,941.35 plus post-judgment interest and a civil monetary penalty of $180,000. The court also ordered that Defendant Hecroft pay restitution of $32,047.79 plus post-judgment interest and a civil monetary penalty of $180,000.
Home > Ponzi Schemes, Offering Frauds, and Other Scams > CFTC v. John Doe 1 a/k/a Morgan Hunt d/b/a Diamonds Trading Investment House, and John Doe 2 a/k/a Kim Hecroft d/b/a First Options Trading (N.D. Tex. June 28, 2019, Contested)