CFTC Asks Court To Serve Summons Through Email for Bitcoin Scammer Dillon Dean
Bitcoin binary options trader Dillon Michael Dean is strategically avoiding the CFTC court summons accusing him and his company of fraud. On January 18th the Commission filed an enforcement action against Dean and his company, The Entrepreneurs Headquarters Limited, alleging they misappropriated over $1.1 million of Bitcoin invested by the public. Just like his company website, YouTube channel, and social pages disappeared, so has Dean himself vanished.
First published by Maria Nikolova of FinanceFeeds, authorities in his home state of Colorado reported, “he packed up and moved out” shortly after the CFTC filed the complaint against him. The Commission alleged that in 2017 Dillon and his company solicited Bitcoin by portraying trading expertise, but they had never registered with the CFTC as Commodity Pool Operators (CPO) nor Associated Person of a CPO as required for trading on contract market exchanges. They never invested the solicited Bitcoin into binary optoin contracts, claims the CFTC.
Now the defendant is nowhere to be found. The Commission reported to the U.S District Court of the Eastern District of New York that he can’t be found at his physical address nor through email or phone calls. This week the CFTC asked the court to validate a nonc pro tunc process to serve his summon by email, or delivering it to the current guardian of his last known address.
Shortly before the enforcement action against Dean, Shay Castle of Daily Camera, a local Colorado publisher, provided a screen of his YouTube videos and reported 270 defrauded backers of his company formed a Facebook group against him. People in the group reached out to the CFTC for help. Colorado Securities Commissioner, Gerald Rome, offered a statement that such companies not only have to be licensed and registered but they have to make a full disclosure of risks to the investors. The article also quoted Dillon’s family saying they too had given him money for the business and that they will never be refunded either. They described him as full of problems with Colorado arrests records for a variety of violations including DUIs and a class 4 felony.