Odaily Planet Daily News: The U.S. CFTC recently announced charges of fraud and misappropriation of funds against a fake commodity trading platform, which is an "online scam targeting Asian Americans." Specifically, the CFTC has taken legal action against Aipu Ltd., Qian Bai, Lan Bai, Fidefx Investments Ltd., and Chao Li, filing a civil enforcement lawsuit in the U.S. District Court for the Western District of Washington. The defendants are suspected of "fraudulently soliciting and misappropriating at least $3.6 million from at least 32 customers as part of a fraudulent investment scheme." The CFTC said the plan solicited funds from customers, including fiat currency and digital assets, to trade commodity futures and foreign exchange contracts. The defendants lied that these assets would be traded through leveraged or margin accounts. However, no transactions occurred and funds were transferred to overseas entities. The regulator is seeking multiple forms of relief, "CFTC seeks to compensate defrauded customers, confiscate illegal gains, and impose civil penalties, trading bans, and permanent bans on further violations of the Commodity Exchange Act (CEA) and CFTC regulations." (Bitcoin.com)