The U.S. Commodity Futures Trading Commission (CFTC) has sued California company Justby International Auctions for cryptocurrency fraud.
The CFTC sent a message to California-based investment firm Justby International Auctions and company owner Cunwen Zhu in a post on its official website on June 22. More than 29 customers worth $1.3 million announced that he was suing for misappropriation of his excess assets and crypto currency fraud.
According to the CFTC’s statements, the company and Cunwen Zhu, “pork butchery” known as and perpetrators with victims emotional relationships by establishing them exploitation based on a fraud was using the system.
Perpetrators by description April 2021 from the history for about 1 year stating that it carries out related activities potential victims cryptocurrency, forex And commodity trades by deceiving for investment made them do it. However, the client funds received to make the said investment cunwen Zhu and other company employees personal expenses was used for.
Institution for victims scammed about Cunwen Zhu and Justby compensation, restitution, fines, trade bans, and permanent injunction requested.
Authority official as CFTC takes part in a fraud case involving a method of pork butchery for the first time Ian McGinley brought by the pandemic from the feeling of loneliness online platforms to get rid of more time and scammers in this place One see the opportunity stated.
On the other hand, Zhu’s April by the USA in the middle similar because of a behavior accused of electronic fraud also reported.