US stock exchange authority brings case against Dane accused of fraud and using a Ponzi scheme

The US stock exchange authority has accused a Danish man of using a pyramid scheme and cryptocurrencies to defraud clients who wanted to invest money

Photo: Eduardo Munoz/Reuters/Ritzau Scanpix

The Community Futures Trading Commission (CTFC), which is the stock exchange authority in the US, has brought a civil suit against a Dane, who is accused of defrauding over 101 people who wanted to invest in currency trading. The case was brought before a judge in the Southern District of New York last week.

Of the estimated EUR 1.37 billion (USD 1.5 billion) that passed through the Dane's business GNFTX, around half seems to have gone to the man himself.

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