Trade Commission commodity futures U.S. (CFTC) fined the company The Entrepreneurs Headquarters (TEH) for $1.9 million for organizing a fraudulent scheme. The firm is accused of stealing bitcoins worth nearly $500 million, writes Mondovisione.
According to the CFTC statement, from April 2017 to January 2018, the company was involved in raising funds for investment in various products, including binary options.
“Instead of having to convert bitcoin into currency for investing in binary options, as promised, the defendants misappropriated the funds of their clients. In the course of the fraud at least 120 people have suffered losses in the amount of $432 184”, — reads the statement of the CFTC.
TEH CEO Dillon Michael Dean attracted new investors to the project with statements about the great experience in the field of trade and promises high profits.
The CFTC also accuses Dillon Dean that he had not registered the company as the operator of the commodity pool.
In addition to a fine of nearly $2 million, the CFTC ordered the participants in the fraudulent scheme to pay compensation to the victims and imposed a permanent ban for team company for trading in the United States.
We will remind, earlier this week the founder of the “stock” of bitcoin stock exchange BitFunder John Montroll pleaded guilty to securities fraud and giving niepokonani the investigation.