On June 28, the Commodity Futures Buying and selling Fee (CFTC) announcement that Choose Naomi Reice Buchwald of the USA District Court docket for the Southern District of New York issued a default judgment granting a everlasting injunction in opposition to Michael Ackerman, a resident of Alliance, Ohio.
Ackerman is now prohibited from participating in any buying and selling exercise on CFTC-regulated markets and prohibited from registering with the CFTC. Together with these restrictions, the judgment orders Ackerman to offer $27 million in restitution to victims who suffered from his fraudulent digital asset buying and selling scheme. Moreover, Ackerman is obligated to pay a $27 million civil penalty, which is a considerable monetary consequence for his involvement within the misleading scheme.
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