Shipkevich Bitcoin and ICO Attorney
Felix Shipkevich April 20, 2011

The U.S. Commodity Futures Trading Commission (CFTC) announced on April 14 that it charged Lyndon Lydell Parrilla and his company, Green Tree Capital, both of California, with operating a fraudulent multi-million dollar foreign exchange scheme since 2009. A Federal court issued an emergency order freezing defendants’ assets and preserving books and records.

The complaint charges that Parrilla and Green Tree Capital, from approximately October 2009 to the present, fraudulently solicited at least $4 million from more than 50 customers in the U.S. for the purported purpose of trading off-exchange forex contracts on a leveraged or margined basis in managed accounts. In soliciting the funds, Green Tree Capital allegedly misrepresented the nature and performance of the investment, its experience and expertise, the total amount of assets under its management and that customer funds would be refunded upon request. Green Tree Capital was not registered with the CFTC.

Read more about this CFTC enforcement action.