The Commodity Futures Trading Commission (CFTC) has accused the pair of Michael and Amanda Griffis of crypto fraud.
The CFTC accused the couple of Michael and Amanda Griffis of defrauding more than 100 people with a digital asset commodity pool called “God’s Blessings Through Crypto”. The couple has raised more than $6 million in funding, according to the CFTC.
CFTC accused a couple of defrauding users with more than $6 million in funds
According to the CFTC, the pair raised over $6 million by reaching out to peers and clients to offer them the option to raise funds to trade digital asset commodity futures contracts.
Michael and Amanda Griffis misrepresented that they would use their pool funds to trade “crypto futures” on the “Apex Trading Platform” with the advice of a person identified as “Aries Wendy” to pool participants, and could make high profits. They also promised “exaggerated profits” without disclosing potential risks, and some participants allegedly linked to Ponzi-style payments were paid $855,000.
The CFTC stated that the pair has mixed the pool with their personal coins and will use the funds to trade futures on its electronic trading platform, Apex Trading Platform.
With this filing, the CFTC reinforces its commitment to hold those responsible for defrauded victims accountable, said Ian McGinley, the CFTC’s director of enforcement.
Michael and Amanda Griffis run real estate firm EXIT Realty Screamin’ Eagle. The real estate firm has not made a statement on the matter at this time. If the decision is upheld by the judge, the couple will be barred from speaking publicly about the case during the fair trial process.
37555
