ChainCatcher reported that according to Bloomberg Law News, the U.S. Federal Court in Illinois ordered the cryptocurrency hedge fund Jafia LLC and its head Sam Ikkurty to pay $84 million to settle fraud charges filed by the U.S. Commodity Futures Trading Commission (CFTC).

Judge Mary Rowland said that Sam Ikkurty made various false statements about the cryptocurrency hedge fund operated by his company Jafia, including statements about his experience in cryptocurrency trading. Sam Ikkurty also used funds from other investors to pay inflated repurchase payments to fund investors, which was a "typical Ponzi scheme."