#commodity pool fraud

The post CFTC sues crypto pool operator over alleged $14M fraud appeared on BitcoinEthereumNews.com. The CFTC has sued a North Carolina man and his company over an alleged commodity pool fraud tied to crypto and futures trading. Summary CFTC says Argent Capital solicited $14.8 million while hiding losses from at least 60 investors. The complaint links Bitcoin, Ether, futures, options, false statements, registration failures, and alleged misused funds. The case lands as CFTC faces wider questions over crypto oversight, resources, and derivatives rules. In a July 7 press release, the Commodity Futures Trading Commission said it filed a civil enforcement action against Trevor Vernon and Argent Capital Management LLC. The agency said the pool traded equity index futures, options on equity index futures, Bitcoin, Ether, and other crypto assets. The complaint says Vernon and Argent Capital solicited more than $14 million from at least 60 participants from March 2022 to February 2026. The CFT

CFTC sues Trevor Vernon and Argent Capital over alleged $14M crypto pool fraud involving Bitcoin, Ether, futures, and investor funds misuse.

The post CFTC sues North Carolina trader over $14 million commodity pool fraud appeared on BitcoinEthereumNews.com. U.S. Federal regulator, CFTC, has accused a North Carolina man of running a Ponzi-like scheme for almost four years, collecting more than $14 million from about 60 investors, some of whom trusted him with a large share of their savings. The Commodity Futures Trading Commission filed the civil complaint on Tuesday, according to a CFTC press release, naming Trevor L. Vernon and his firm Argent Capital Management LLC. According to the lawsuit, Argent Capital Management, a Delaware company based in Franklin, North Carolina, ran what the CFTC describes as a commodity pool. The pool put money into equity index futures, options on those futures, as well as crypto assets, the regulator said. The case landed in the U.S. District Court for the Western District of North Carolina. Fraud scheme with consistent losses Vernon pitched himself as a winning trader and marketed the commodit