CFTC sues North Carolina trader over $14 million commodity pool fraud
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