The U.S. Commodity Futures Trading Commission announced that a federal court entered a default judgment against Brian Early and Alisha Ann Kingrey over their participation in the Fundsz digital assets and precious metals fraud. Together with earlier consent orders involving the estate of Fundsz founder Rene Larralde and Juan Pablo Valcarce, the judgment resolves all remaining claims in the CFTC’s action. The court found that Early and Kingrey misrepresented Fundsz’s expected profits, loss risks and trading record, including claims that participant funds would be traded using a proprietary algorithm and could be withdrawn after 180 days with interest. They were ordered to pay USD 15,732,455 in restitution and a USD 15,752,455 civil monetary penalty, and were permanently barred from registration and trading. Under the consent orders, Larralde’s estate representative must relinquish a residence purchased with investor funds and more than USD 2.7 million in other assets to the court-appointed receiver, while Valcarce is subject to permanent registration and trading bans.
U.S. Commodity Futures Trading Commission announces final Fundsz fraud judgments, including USD 31.5 million in restitution and penalties
The U.S. Commodity Futures Trading Commission announced final court judgments resolving its Fundsz digital assets and precious metals fraud case. Brian Early and Alisha Ann Kingrey were ordered to pay USD 15.7 million in restitution and a USD 15.8 million penalty and received permanent registration and trading bans, while separate consent orders require the transfer of assets linked to Rene Larralde and permanently ban Juan Pablo Valcarce.