Express
The Founder Of Q3 Faces A Fine Of Over $100 Million From CFTC
Summary: Michael Ackerman, a former stockbroker, and the founder of Q3 is facing a fine of over $100 million from The CFTC, according to a document filed to the Southern District Court of New York. The compensation payments include $27 million as restitution and $81 million as a civil monetary penalty. The CFTC stated that Ackerman was suspected of ...
Michael Ackerman, a former stockbroker, and the founder of Q3 is facing a fine of over $100 million from The CFTC, according to a document filed to the Southern District Court of New York. The compensation payments include $27 million as restitution and $81 million as a civil monetary penalty. The CFTC stated that Ackerman was suspected of participating in a fraudulent cryptocurrency plan. The two financial entities he established, Q3 Trading Club and Q3 I, defrauded about $33 million from more than 150 investors, most of the funds were used for Ackerman's personal consumption.
By Mary Liu
Tags: CFTC,Cryptocurrency,Michael Ackerman,Q3
Link: The Founder Of Q3 Faces A Fine Of Over $100 Million From CFTC [Copy]
