Bitcoin

Ethereum

A federal judge has mandated that William Koo Ichioka pay more than $36 million in fines and restitution for his involvement in a fraudulent <a href="https://optimisus.com/market/market-news/kamala-harris-pledges-to-expand-crypto-and-ai-sectors-in-her-presidential-campaign/" rel="noopener noreferrer nofollow">crypto</a> and forex operation.The U.S. Commodity Futures Trading Commission (CFTC) issued the order on September 20. Ichioka was mandated to remit $31 million in restitution and a $5 million civil penalty. He was prohibited from trading in CFTC-regulated markets and from registering with the CFTC.Ichioka admitted admission to criminal offenses encompassing wire fraud, the preparation of fraudulent tax returns, and securities and commodities fraud. He was sentenced to four years of imprisonment and subjected to multi-million dollar fines and reparations as mandated by the court ruling.The &#34;Ichioka Ventures&#34; scheme entailed cheating more than one hundred investors who anticipated a 10% return on their investment every 30 working days.Ichioka portrayed himself as a &#34;self-made investor&#34; with a &#34;multimillion-dollar fortune&#34; who would allocate capital into securities and commodities, generating profits through <a href="https://optimisus.com/market/market-news/donald-trump-launches-a-new-cryptocurrency-venture-world-liberty-financial/" rel="noopener noreferrer nofollow">crypto arbitrage</a>, futures and derivatives, and foreign exchange dealings. He perpetrated his deception on investors by utilizing counterfeit financial documents and fraudulent account statements.

A judge orders a fraudster to pay over $36 million in fines and restitution

Optimisus

Other articles published on Sep 23, 2024

Bybit Türkiye Listed as a Crypto Asset Service Provider by the CMB (23 Sep)

Coinpedia Fintech News

JasmyCoin Confirms Major Breakout: Is This the Start of a Bullish Rally?

Bitcoin Remains Resilient Despite Satoshi-Era Miner Sales

How to Shop on X with Shopify Using Solana Blinks

Analysts predict Bitfarms stock doubling after Riot settlement

Join our free newsletter for daily crypto updates!