CFTC Accuses North Carolina Firm of $14 Million Crypto and Futures Commodity Pool Fraud
The post CFTC Accuses North Carolina Firm of $14 Million Crypto and Futures Commodity Pool Fraud appeared on BitcoinEthereumNews.com. The fraud charges were made against Trevor Vernon and Argent Capital Management for the $14 million commodity pool fraud. It is said that the company falsely represented the trading records, registration, and profitability to its investors, who incurred huge losses. The U.S. Commodity Futures Trading Commission has commenced a civil action in federal court against Trevor Vernon and Argent Capital Management LLC. According to regulators, the defendants operated an illegal commodity pool engaged in the trading of cryptocurrencies, futures, and options. As mentioned in the complaint, nearly 60 individuals have invested close to $14 million in the trading scheme. The agency claims that Vernon used the marketing scheme to promote himself as a seasoned trader through investor communications and performance updates. Instead, regulators claim that the accounts o