Shipkevich Bitcoin and ICO Attorney
Felix Shipkevich April 21, 2011

On April 15th, the CFTC obtained a federal order from a federal court in New York to force Brian Kim and Liquid Capital Management LLC to pay in excess of $12 million in restitution and penalties for defrauding a commodity pool. $3.1 will go to fraud victims, including Kim’s Condominium Association, and $9.3 million levied as a civil monetary penalty. Additionally, the defendants are forbidden from commodities trading or registering with the CFTC.

The order comes as a result of a complaint filed by the CFTC on February 15th of this year, charging Kim and Liquid Capital Management with a host of crimes, including fraudulent solicitation, misappropriation and misrepresentation, and falsifying records.

Read more about this CFTC enforcement action.

 

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