US CFTC Charges Fundsz and Four Individuals with Cryptocurrency and Precious Metal Investment Fraud

08/12 08:00

US CFTC announced yesterday that it has filed a lawsuit against four individuals and their illegal entity Fundsz for fraudulent solicitation of users to invest in cryptocurrencies and precious metals. It is reported that since October 2022, Fundsz has been soliciting participants by claiming to generate more than 3% weekly returns through the use of so-called "proprietary algorithms" and some "secrets" of cryptocurrency and precious metal trading. According to the CFTC, someone claimed to have paid Fundsz $2,500 and expected it to grow to $1 million within four years.
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