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...
To view the full article, register now.



Case Information

Case Title

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

Case Number



California Southern

Nature of Suit



Anthony J. Battaglia

Date Filed

January 6, 2011

Law Firms

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.