The CFTC Asks Court to Issue Fines in Excess of $100M Against Mastermind of a...

The CFTC Asks Court to Issue Fines in Excess of $100M Against Mastermind of a...

The Commodity Futures Trading Commission (CFTC) has filed a motion with the New York Southern District Court that seeks heavy penalties against Michael Ackerman, the mastermind of a fraudulent cryptocurrency scheme. According to the motion, the U.S. agency wants the court to order Ackerman to pay $27 million in restitution plus a civil penalty of $81 million. Additionally, the CFTC wants a default judgment issued against Ackerman after he failed to turn up for the initial motion hearing. The initial motion filing, which the agency filed together with the U.S. Securities and Exchange....


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