United States, America – The United States (US) government seeks to interfere in a complaint against a suspected Bitcoin scammer named Jon Barry Thompson.
The Commodity Futures Trading Commission (CFTC) filed this case against Thompson, and the charges include commodities fraud offenses. Also, the scammer was charged with wire fraud offenses.
The US government filed the documents at the New York Southern District court, wherein they are requesting the right to mediate. The plea to intervene was announced on November 19, 2019. Part of the involvement is residing in civil proceedings, and it will continue until there’s a conclusion on the case of Thompson.
As per the filing, the US government believes that enduring the case unremitting could result in intrusion with the comparable case. According to the filings as well, if the case proceeds, there will be a significant involvement with the Criminal Case, which is a risk,
As per CFTC, their stay would avoid the dodging of vital statutory restrictions on criminal findings. It will also prevent asymmetrical discovery. Furthermore, it would preserve the resources of the court since the Criminal Case will resolve the issues.
On July 25, Thompson had two cases. These cases include two counts of wire fraud and commodities fraud.
Finance Feeds mentioned that the charges linked to the two schemes caused two companies to send millions of dollars to Volantis Market Making LLC and Volantis Escrow Platform LLC. These two are his companies, and both are in connection with Bitcoin.
CFTC’s complaint on the same day when the accusation on Thompson’s case was returned on September 25.
According to Finance Feeds, Thompson was reported that he persuaded two clients to send about $7 million to fund the buying of Bitcoin. He made false representations that he has the Bitcoin, and his clients’ money is safe. When he received the money, he sent it to third parties, and he also failed to give the promised Bitcoins.
Aside from false representation, Thompson also lied about the status of his customers’ money, the Bitcoin’s location, and the reasons for delayed transactions.
As per Geoffrey S. Berman from Finance Magnates, Thompson convinced his clients to invest cryptocurrency in Volantis Market Making. He also mentioned that cryptocurrency investors lost a lot of money because of his false representations.
Regardless if it implicates cryptocurrency or other currency types, the Office commits to rooting out scam. Also, it pledges to protect the market’s integrity.