Shipkevich Bitcoin and ICO Attorney
Felix Shipkevich February 16, 2012

The CFTC filed a federal court action in Puerto Rico, charging Angel Fernando Collazo and his companies, ACJ Capital, Inc. (ACJ) and Solid View Capital LLC with fraud and misappropriation. The defendants allegedly took $1 million from investors and misappropriated it. The CFTC froze the defendants’ assets and entered a preliminary injunction against Collazo and co.

The complaint alleges that Collazo solicited commodity pool participants (“CPO”) and claimed profitable returns. Allegedly, Collazo misappropriated the pool funds for personal uses, did not disclose the use of pool participant funds, misappropriated the profitability of pool trading accounts, and distributed false statements to the pool participants that showed substantial trading profits.

The CFTC will seek restitution to Collazo’s defrauded customers, disgorgement of gains, bans on trading and registration, and permanent injunctions against violations of CEA and CFTC regulations.

Read more about this enforcement action.

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