A US federal court ordered a New York company to pay $2.5 million in fines and restitution for running a Ponzi scheme that scammed at least 80 people who thought they were investing in bitcoin.
The Commodity Futures Trading Commission (CFTC) took action in this first ever anti-fraud bitcoin related case in September 2017. The court ruled that Gelfman Blueprint Inc. and its CEO Nicholas Gelfman solicited more that 600 000 USD from retail investors between 2014 and 2016 by claiming their funds were part of an algorithmic trading strategy.
The Commodity Futures Trading Commission (CFTC) took action in this first ever anti-fraud bitcoin related case in September 2017. The court ruled that Gelfman Blueprint Inc. and its CEO Nicholas Gelfman solicited more that 600 000 USD from retail investors between 2014 and 2016 by claiming their funds were part of an algorithmic trading strategy.
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