{"id":292888,"date":"2024-09-20T18:54:16","date_gmt":"2024-09-20T18:54:16","guid":{"rendered":"https:\/\/newhampshiredigitalnews.com\/index.php\/2024\/09\/20\/cftc-wins-36m-victory-in-california-crypto-fraud-case\/"},"modified":"2024-09-20T18:54:16","modified_gmt":"2024-09-20T18:54:16","slug":"cftc-wins-36m-victory-in-california-crypto-fraud-case","status":"publish","type":"post","link":"https:\/\/newhampshiredigitalnews.com\/index.php\/2024\/09\/20\/cftc-wins-36m-victory-in-california-crypto-fraud-case\/","title":{"rendered":"CFTC wins $36m victory in California crypto fraud case"},"content":{"rendered":"


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New York resident William Koo Ichioka agreed to pay $36 million in a CFTC case alleging cryptocurrency and forex fraud.<\/p>\n

According to a Sept. 20 notice, Judge Vince Chhabria of the U.S. District Court for the Northern District of California ordered<\/a> Ichioka to pay $31 million in investor restitution for a crypto fraud scheme that began in 2018. Judge Chhabria also granted the Commodity Futures Trading Commission a $5 million fine.<\/p>\n

Ichioka reportedly began fundraising millions from investors over six years ago, promising a 10% yield every 30 working days. The former San Francisco resident falsified financial statements and bank accounts to support his claims.<\/p>\n

The CFTC stated that while Ichioka did invest the funds in digital assets and foreign exchange positions, he also spent investor money on personal luxury expenses. Prosecutors cited high-end apartments, watches, jewelry, and expensive cars funded with money entrusted to Ichioka. The commingling of funds and fraudulent practices meant investors never received returns.<\/p>\n

Crypto scrutiny by regulators like the CFTC continues to advance as Capitol Hill debates possible laws overseeing the growing industry. The CFTC recently settled<\/a> a digital asset derivatives case with Uniswap, the largest decentralized exchange on Ethereum (ETH<\/a>).<\/p>\n

On Sept. 19, Federal prosecutors charged two individuals with a $243 million theft. The two were part of a trio who scammed<\/a> a Genesis creditor of over 4,000 Bitcoin (BTC<\/a>).<\/p>\n<\/div>\n


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New York resident William Koo Ichioka agreed to pay $36 million in a CFTC case alleging cryptocurrency and forex fraud. According to a Sept. 20<\/p>\n","protected":false},"author":1,"featured_media":292889,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[163],"tags":[],"class_list":["post-292888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/292888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=292888"}],"version-history":[{"count":0,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/292888\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/292889"}],"wp:attachment":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=292888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=292888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=292888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}