Trusted Professional

Federal Court Fines Bitcoin Ponzi Schemer $2.5 Million

100-abundance-achievement-730564 Commodity Futures Trading Commission

In addition to requiring GBI and Gelfman, to pay, respectively, $554,734.48 and $492,064.53 in restitution to customers and $1,854,000 and $177,501 in civil monetary penalties, the judge's orders impose permanent trading and registration bans on GBI and Gelfman and permanently enjoin them from further violations of the Commodity Exchange Act and CFTC regulations, as charged.