👨⚖️ CFTC wins permanent ban against crypto boiler room
The U.S. Commodities Futures Trading Commission (CFTC) won a permanent ban against CabbageTech Crop, a cryptocurrency promoter deemed “a bold and vicious fraud" by the judge. After a nonjury trial in July, it was concluded that Patrick McDonnell, the operator of CabbageTech, operated a “boiler room” which illegally deprived large numbers of investors in different states and countries using “trickery, false statements, and misappropriation of funds.” McDonnell was ordered to pay $290,429 in restitution and $871,287 in penalties.
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