More than $6m embezzled

The Commodity Futures Exchange Commission (CFEC) has accused two people and business people in Las Vegas in connection with the fraud of the Cryptocurrencies. The agency accused Randall Crater and Mark Gillespie, as well as My Big Coin Pay, Inc., of taking money from customers and transferring those funds to their personal accounts. In addition, the defendants allegedly used the money "for personal expenses and luxury goods". According to the CFTC statement, the defendants embezzled more than $ 6 million from clients, with those funds required between 2014 and 2018. The defendants had also falsely distinguished the true nature of the project, including claims that were backed by Gold Holdings and which had a link with MasterCard. My Big Coin's site offers a number of services related to crypto services, including the ability to buy, sell, and mine. A blog has been updated since June. James MacDonald, director of FTA implementation, said in a statement: "As this case shows, the CFTC is actively policing the virtual currency markets and will vigorously enforce the anti-fraud provisions of the Commodity Exchange Act. In addition to harming customers, fraud in connection with virtual currencies inhibits potentially market-enhancing developments in this area." The lawsuit was originally filed on January 16, but remained under seal. Last week, the agency raised two other cases against alleged subversives of the hidden currency, but the third, which was released at the time, has yet to be revealed.