The U.S. Commodity Futures Trading Commission (CFTC) has obtained a default judgment requiring Brian Early and Alisha Ann Kingrey to pay over $30 million in penalties for their roles in the Fundsz fraud scheme. The U.S. District Court for the Middle District of Florida found that the defendants, who served as board members and Telegram group administrators, made false statements regarding expected returns, historical trading performance, and investment risks while claiming user funds generated interest through a proprietary algorithm.
Upon learning of the regulatory investigation, Early and Kingrey attempted to downplay previous return promises and delete Fundsz-related social media content. In related enforcement actions, consent orders were signed with Rene Larralde and Juan Pablo Valcarce; Valcarce has been permanently banned from trading crypto assets or precious metals on behalf of others and prohibited from further CFTC violations. The case involved unregistered Fundsz entities and their associated website.
CFTC Secures $30M Judgment Against Fundsz Fraud Operators
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