A Tennessee couple, Michael and Amanda Griffis, have been ordered to pay nearly $7 million in penalties and restitution for defrauding 145 individuals through a fraudulent commodity pool named 'Blessings Thru Crypto.' The Commodity Futures Trading Commission (CFTC) announced the ruling on September 25, revealing that the couple misled investors by claiming their funds would be used to trade commodity futures on the Apex Trading Platform, guided by a figure known as 'Coach Wendy.' Instead, over $4 million was funneled to an illegitimate overseas exchange, with the rest used for personal expenses.
The court has mandated the Griffis to pay $5,528,121 in restitution and a $1,355,232 civil penalty, totaling over $6.8 million. Additionally, they are permanently banned from trading and registering with the CFTC.
Tennessee Couple Fined $7M for Commodity Pool Fraud
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