BlockBeats news, July 27, according to an official announcement, the U.S. Commodity Futures Trading Commission (CFTC) announced today that David C. Guaderrama, senior judge of the U.S. District Court for the Western District of Texas, issued a ruling on July 9 against Abner Alejandro Tinoco and his company Kikit & Mess Investments, LLC, requiring them to pay a total of more than $31 million in economic compensation.
The ruling requires Tinoco and Kikit & Mess, formerly of El Paso, Texas, to jointly and severally pay $6,203,792.18 in restitution to 199 victims; $6,257,904.89 in disgorgement and an equal credit for any restitution paid to victims; and a civil monetary penalty of $18,773,714, which is three times the illegal proceeds from their fraudulent foreign exchange and cryptocurrency schemes.