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Tag: fraudulent digital asset scheme

CFTC Charges 3 Texas Men and 1 Florida Man in Fraudulent Digital Asset Scheme
Business

CFTC Charges 3 Texas Men and 1 Florida Man in Fraudulent Digital Asset Scheme

Washington, DC (STL.News) The Commodity Futures Trading Commission today filed a complaint in the U.S. District Court for the Southern District of Texas against four individuals for fraudulently soliciting funds from customers to speculate in Bitcoin price movements.  The defendants are Texas residents Mayco Alexis Maldonado Garcia, Cesar Castaneda, and Rodrigo Jose Castro Molina, and Florida resident Joel Castaneda Garcia. The complaint alleges that from at least August 2016 through October 2017, the defendants falsely represented to actual and potential customers that their business, named Global Trading Club (GTC), employed “master traders” who had years of experience trading “crypto currency,” and used “cutting edge trading robots” to trade Bitcoin for customers “24 hours a day, 7 day...