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US Government shutdown pushes CFTC to seek stay of actions against fraudsters

December 27, 2018 / Maria Nikolova

The US Government shutdown is affecting the services of regulatory bodies, including the Commodity Futures Trading Commission (CFTC), which is seeking the stay of actions against binary options and virtual currency fraudsters. The respective motions were filed with federal courts on December 26, 2018. One example of a case which the CFTC wants to stay targets, Blake Kantor, Nathan Mullins, Blue Bit Banc, Blue Bit Analytics, Ltd., G. Thomas Client Services, and Blue Wolf Sales Consultants. The defendants are accused of having solicited potential customers through emails, phone calls, and a website to purchase illegal off-exchange binary options via companies such as Blue Bit Banc. Under the allegations, the defendants sought to cover up their misappropriation by inviting customers to transfer their binary options account balances into a virtual currency known as ATM Coin.