Crypto Investment Schemes charged with fraud by CFTC

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Two cryptocurrency investment schemes have been charged with fraud by the United States derivatives regulator, the U.S. Commodity Futures Trading Commission (CFTC).

The pontiffs in the two separate lawsuits are Dillon Michael Dean from Colorado and his company, Entrepreneurs Headquarters Limited and Patrick Kerry McDonnell from New York and the company CabbageTech. Both have been accused of misappropriating the funds raised with fraudulent cryptocurrency investment products.

Last year the CFTC signposted that tokens issued by the means of ICOs may be considered commodities.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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