CFTC Orders Man and Company to Pay Over $31 Million in Forex and Crypto Fraud
Odaily2024/07/26 17:15
By:Odaily
Odaily News The U.S. Commodity
Futures Trading Commission (CFTC) announced today that Senior Judge David C. Guaderrama of the U.S. District Court for the Western District of Texas has ruled on July 9 that Abner Alejandro Tinoco and his company Kikit Mess Investments, LLC, must pay a total of more than $31 million in monetary restitution, including $6,203,792.18 in restitution to 199 victims, $6,257,904.89 in disgorgement and an equal credit for any restitution paid to victims, and a civil monetary penalty of $18,773,714, which is three times the illegal proceeds from their fraudulent foreign exchange and
cryptocurrency schemes. (CFTC)
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