The U.S. Commodity Futures Trading Commission (CFTC) has ruled against Randall Crater, ordering him to pay over $7.6 million to the victims of the My Big Coin cryptocurrency fraud. He misled clients by claiming the currency was backed by gold. The funds collected from 28 clients were spent by Crater on luxury purchases. The court also imposed a lifetime ban on him from trading and participating in digital asset transactions. This decision concludes the CFTC case, but the investigation into his accomplices is ongoing. Crater was also sentenced to prison for crimes related to fraud and illegal financial transactions.
2/12/2025 8:40:08 AM (GMT+1)
Randall Crater is required to pay $7.6 million to the victims of the My Big Coin cryptocurrency fraud. The court has also imposed a lifetime ban on him from participating in digital asset transactions 🚫
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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