CFTC charges New York Man for defrauding users, including crypto holders, of over $21 million
The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against William Koo Ichioka, for de fraud ing around 100 users , including crypto asset holders , of more than $21 million . The fraudulent scheme According to the CFTC’s report, Ichioka, a resident of New York City, operated a fraudulent scheme from 2018 to November 2021 called the Ichioka Ventures. During that time, he solicited tens of million s of dollars from individuals, with a promise to trade digital asset commodities such as bitcoin (BTC) and ethereum (ETH), as well as engage in Forex utilizing the Ichioka Ventures commodity interest pool. You might also like: CFTC approves Cboe margin crypto futures The investment was supposed to be short-term, having a 10% return on investment after every 30 days. Participants in Ichioka’s venture pool were also assured that their funds could be withdrawn easily, or reinvested. However, Ichioka didn’t keep to his promi...