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Commodity Futures Trading Commission v. Ackerman et al
Case Number:
1:20-cv-01183
Court:
Nature of Suit:
Judge:
Firms
Government Agencies
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January 07, 2021
Purported Crypto Fraudster Should Pay $100M, CFTC Says
The U.S. Commodity Futures Trading Commission asked a Manhattan federal judge to enter a final judgment by default of more than $100 million against a purported cryptocurrency trader and his two companies in connection with allegations he talked more than 150 investors into handing over at least $33 million for trading, then embezzled more than $25 million of the funds.
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February 11, 2020
Feds Indict Crypto Scheme Operator In $33M Fraud
Ohio resident Michael Ackerman was indicted in the Southern District of New York on Tuesday for allegedly masterminding a scheme in which he raised more than $33 million from more than 150 investors by promoting a cryptocurrency trading algorithm he said would generate "extraordinary profits."