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CFTC sues North Carolina man for raising over $14 million through investment fraud involving crypto assets and others.

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Wu learned that the CFTC has filed a lawsuit against North Carolina resident Trevor L. Vernon and his company Argent Capital Management LLC, accusing them of falsely promoting commodity pool investments from March 2022 to February 2026, raising over $14 million from at least 60 investors. The funds were used for trading stock index futures, stock index futures options, and crypto assets, among others. They are also accused of falsely advertising investment performance, sending false performance reports, and misappropriating funds, using new investor money to pay existing investors in a manner similar to a Ponzi scheme. The CFTC also alleges that they violated multiple registration requirements and is seeking court orders for restitution to investors, disgorgement of ill-gotten gains, civil monetary penalties, and trading and registration bans.
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GasUnderTheMoonlight
· 10h ago
The CFTC action was quite prompt—before the 2022–2026 time span had even run very far, they caught it.
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RollupStreetKid
· 10h ago
It's the same old Ponzi scheme, and even outside the crypto circle, you can't escape it.
View OriginalReply0

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