CFTC claims $429M Penalty from Ponzi Operator

The United States Commodity Futures Trading Commission claimed from court to force Reynolds to pay nearly 500 million USD for the case of United Kingdom-based Control-Finance and its AWOL operator.

The CFTC did not have much success in locating Reynolds since June of last year. Based on commission opinion, Reynolds laundered 22,858 Bitcoin from May to October of 2017. According to their calculations it has been worth $147 million in 2017.

The CFTC’ asks $429 million USD, which is three times higher:

“Defendant shall pay a civil monetary penalty in the amount of four hundred twenty nine million dollars ($429,000,000) (“CMP Obligation”). If the CMP Obligation is not paid immediately, then postjudgment interest shall accrue on the CMP Obligation beginning on the date of entry of this Order.”

The proposed order might be an attempt to scare Reynolds and make him pay as previous claim had been in April and has been done by default.

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