CFTC sues Tennessee couple over alleged ‘Blessings of God Thru Crypto’ fraud
The CFTC has accused Tennessee-based real estate business owners of running a fraud ulent crypto scheme that allegedly swindled over 100 individuals out of more than $6 million. The Commodity Futures Trading Commission (CFTC) initiated a lawsuit against Michael and Amanda Griffis on July 25, a couple residing in Tennessee, who allegedly exploited their real estate business clientele to conduct a crypto scheme. The Griffises, who own EXIT Realty Screamin’ Eagle, are said to have deceived over 100 individuals, raising more than $6 million in the process. The elaborate fraud involved a digital asset commodity pool, ironically titled “Blessings of God Thru Crypto.” The scheme appealed to investors with promises of outsized returns and a surefire opportunity to speculate on the future value of cryptocurrencies. Misrepresenting the security of investors’ funds, the Griffises claimed these resources would remain in their control and would be used to trade “...