🔔A US court ordered Jafia LLC and its owner Sam Iccurti to pay almost $84 million to cryptocurrency investors, finding that the firm operated a Ponzi scheme.

💼 Iccurti, based in Portland, Oregon, has made numerous false statements about his hedge funds. Instead of promising high, stable profits, he used funds from new investors to pay early investors.

⚖️ The court found that Ikkurti appropriated investment funds for personal use without the knowledge of investors. This regulatory violation by the CFTC resulted in a large fine.

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