The US CFTC has requested summary judgement for more than half a billion dollars after failing to locate 2017 Benjamin Reynolds, who the CTFC alleges created a Bitcoin Ponzi scheme.
By Alexander Behrens
In brief
The US Commodities and Futures Trading Commission is seeking summary judgment in the case of Bitcoin fraudster Benjamin Reynolds.
The CFTC alleges Reynolds defrauded more than 1,000 investors out of $143 million worth of Bitcoin in 2017.
Regulators are also seeking more than $400 million in penalty charges as a deterrent to future Bitcoin frauds.