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CFTC Charges Mosaic Exchange Limited and Sean Michael with a Fraudulent Solicitation and Digital Asset Commodities Trading Scheme
The Commodity Futures Trading Commission today announced it filed a civil enforcement action in the U.S. District Court for the Southern District of Florida against Mosaic Exchange Limited, a Pennsylvania limited liability company, and its owner and Chief Executive Officer Sean Michael, presently or formerly of Boca Raton, Florida, for running a fraudulent digital asset commodity scheme. The complaint alleges the defendants fraudulently solicited and induced at least 17 people in the U.S. and other countries to give them hundreds of thousands of dollars’ worth of bitcoin or other funds for the defendants to trade ... (full story)