Calif. Man To Pay CFTC $7M Over Ponzi Scheme

Law360, New York (October 19, 2011, 6:11 PM EDT) -- The U.S. Commodity Futures Trading Commission said Wednesday that a California Ponzi schemer currently serving a five-year prison sentence had agreed to pay a nearly $7 million civil penalty over the fraud.

Scott Bottolfson and his two companies, Spirit Investments Inc. and Increase Investments Inc., are jointly and severally responsible for a $6.8 million civil penalty and are banned from trading and registrations, the agency announced.

Bottolfson and the two companies agreed to the consent order, which was entered by U.S. District Judge Anthony J. Battaglia...
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Case Information

Case Title

Commodity Futures Trading Commission v. Increase Investments, Inc. et al


Case Number

3:11-cv-00032

Court

California Southern

Nature of Suit

Securities/Commodities

Judge

Anthony J. Battaglia

Date Filed

January 6, 2011

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Government Agencies

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