Court Enters $900K Judgment Against Crypto Ponzi Scammer on Behalf of CFTC

Venture Capital Investments Ltd. raised $534,829 from 72 victims, falsely promising to invest funds in bitcoin and other assets.

Nov 4, 2020, 10:16 PM

Updated Aug 19, 2021, 5:29 AM

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The U.S. District Court of Colorado entered a judgment on behalf of the Commodity Futures and Exchange Commission (CFTC) against a Ponzi scammer on claims he and his company raised half a million dollars for cryptocurrency investments, which instead went to personal uses, the CFTC announced Wednesday.

Breonna Clark, otherwise known as Eliot Clark or Alexander Pak, and his firms, Venture Capital Investments Ltd. (VCI) and The Life Group, were charged with raising $534,829 from 72 victims, promising to invest funds in bitcoin, altcoins and foreign currency contracts.
Instead, $450,302 in funds went to personal uses, including the purchase of a BMW.
The order requires VCI and Clark to pay $450,302 in restitution, a monetary penalty of $450,302 and the CFTC’s costs. Additionally, the defendants are now banned from registering with the CFTC and trading in any CFTC-regulated markets.

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Kevin Reynolds

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