According to Foresight News, the US Department of Justice (DOJ) has reported that Peter Kambolin, the former CEO of investment management firm Systematic Alpha Management LLC, has admitted to participating in a transnational scheme involving forex and cryptocurrency futures contracts. Kambolin has confessed to conspiring to commit commodity fraud and faces a maximum penalty of five years in prison.

The DOJ stated that from January 2019 to November 2021, Kambolin, who was then serving as a commodity trading advisor and commodity pool operator, participated in a preferential scheme that fraudulently allocated profits and losses from futures trading. The scheme aimed to benefit Kambolin at the expense of his clients and involved unfair accounting practices. Kambolin falsely claimed to his clients that SAM's trading strategy focused on cryptocurrency futures contracts and forex futures contracts. In reality, about half of Kambolin's trades in each pool involved stock index futures contracts. Kambolin used the proceeds from the scheme to pay for personal expenses, including apartment rent, and transferred the profits to foreign bank accounts controlled by his accomplices in Belarus and the Dominican Republic.