CFTC Requests Default After Failing to Find $147M Bitcoin Ponzi Operator
The United States Commodity Futures Trading Commission (CFTC) has requested that the alleged founder of the crypto $147 million Ponzi scheme Control-Finance be declared a default.On April 3, the CFTC filed for a ruling of default after Control-Finance’s alleged founder and director, Benjamin Reynolds, did not respond to the regulator’s complaint.CFTC unable to locate Reynolds after 10 monthsThe CFTC’s complaint was filed during June 2019 — alleging that Reynolds misappropriated at least 22,858 BTC from more than 1,000 customers from May 1, 2017.In January 2020, the SEC requested additional time