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State Court Enters Judgement Against Operator Of $500 Million Crypto Scam
Summary: The U.S. District Court of Colorado entered a judgement on behalf of the Commodities and Futures Trading Commission against an individual named Breonna Clark for running a ponzi scam which robbed investors of $500 million, according to a recent announcement. Clark, also known as Eliot Clark or Alexander Pak, and his firm Venture Capital Investments Ltd. and ...
The U.S. District Court of Colorado entered a judgement on behalf of the Commodities and Futures Trading Commission against an individual named Breonna Clark for running a ponzi scam which robbed investors of $500 million, according to a recent announcement.
Clark, also known as Eliot Clark or Alexander Pak, and his firm Venture Capital Investments Ltd. and The Life Group were charged with raising $534,829 from 72 victims from investors promising that the money would be invested in Bitcoin, altcoins and foreign currency contracts, but instead the money went towards personal use.
The order requires VCI and Clark to pay $450,302 in restitution, a monetary penalty of $450,302 and the CFTC’s costs. Defendants are also banned from registering with the CFTC and trading in CFTC-regulated markets.
By Emily Mason
Tags: CFTF,Colorado,Commodities And Futures Trading Commission,Crypto Scam,Ponzi Scheme
Link: State Court Enters Judgement Against Operator Of $500 Million Crypto Scam [Copy]
