CFTC Orders Utah Man to Pay More Than $2.5 Million for Leveraged Bitcoin Fraud and Failure to Register
September 09, 2023
September 09, 2023
WASHINGTON, Sept. 9 -- The Commodity Futures Trading Commission issued the following enforcement news release on Sept. 8, 2023:
The Commodity Futures Trading Commission issued an order today simultaneously filing and settling charges against Jacob Orvidas. The order finds Orvidas fraudulently solicited at least four people (pool participants) to trade leveraged bitcoin in a commodity pool, lost almost all funds trading, and then lied to pool participants about the losses and the ava . . .
The Commodity Futures Trading Commission issued an order today simultaneously filing and settling charges against Jacob Orvidas. The order finds Orvidas fraudulently solicited at least four people (pool participants) to trade leveraged bitcoin in a commodity pool, lost almost all funds trading, and then lied to pool participants about the losses and the ava . . .