U.S. CFTC recovers $18M from a Ponzi scheme involving crypto hedge funds.

Sept 5, 2024 Sept 5, 2024

Defendants must pay $83M in restitution and $110M in penalties for defrauding participants.

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Sam Ikkurty misled investors about crypto hedge fund profits, running a Ponzi-like scheme.

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Ikkurty fined $14M for contempt and ordered to return $884K in professional defense expenses.

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Ikkurty and Jafia are permanently banned from trading digital assets or registering with the CFTC.

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