CFTC Wins $31 Million Fine In Crypto Fraud Case – Details
Summary
The US CFTC won a case against Abner Tinoco and his company for misappropriating $3.9 million from 61 clients. Tinoco used the funds for personal expenses and operated a Ponzi scheme. The court ordered Tinoco to pay over $31 million in fines, including $6.20 million to fraud victims and an $18.7 million civil penalty. Tinoco is serving an 84-month sentence and must compensate victims with $9.02 million.
