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Tag:

penalty

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NFT Gaming

Tennessee Couple Hit With $6.8 Million Penalty for ‘Blessings of God Thru Crypto’ Fraud

by admin September 27, 2025



In brief

  • Michael and Amanda Griffis pleaded guilty to defrauding 145 investors out of $6.5 million through their fraudulent “Blessings of God Thru Crypto” commodity pool.
  • The scheme involved a fake trading platform designed to look like the legitimate Apex trading platform and guidance from the mysterious “Coach Wendy,” whose identity remains unknown.
  • Victims were duped into believing their funds would generate high returns through crypto futures trading, but more than $4 million vanished through an illegitimate overseas exchange.

A Tennessee couple who exploited their real estate connections to bilk investors out of millions through a fake crypto trading scheme has been ordered to pay over $6.8 million in restitution and penalties.

The Commodity Futures Trading Commission announced Thursday that the U.S. District Court for the Middle District of Tennessee entered a consent order against Michael and Amanda Griffis, Clarksville real estate agents who operated the fraudulent “Blessings of God Thru Crypto” commodity pool from 2021 to 2023. 

The couple was first charged by the CFTC in July 2023.

The regulator said the couple used their real estate business connections to persuade 145 investors to hand over $6.5 million, promising the money would generate profits through crypto futures trading on what they claimed was the legitimate Apex platform under the supervision of the mysterious “Coach Wendy.”



Under the court order, the couple must pay more than $5.5 million back to the victims and face an additional $1.35 million “civil monetary penalty.”

The Griffises funneled money into a sham platform modeled on an overseas exchange, while the true identity of “Coach Wendy” remains unknown to investigators.

Over $4 million was funneled offshore after hitting the fake exchange, while the rest covered the couple’s personal debts and expenses. Only about $855,000 was paid back to participants in Ponzi-style payouts, the CFTC said.

The ruling also imposes lifetime bans preventing them from commodity trading or CFTC registration, while barring future violations of federal commodity laws.

This case is part of a troubling pattern of fraudsters exploiting trust within community groups, like a Denver pastor and his wife that were recently ordered to repay $3.39 million after raising millions for worthless church tokens. Other examples include a Long Island man hit with a $228 million CFTC judgment, and a nine-year prison sentence for a Ponzi scheme operator that preyed on his Haitian church community.

In the latest case, investors may have ignored warning signs that could have indicated the fraud in question.

“An exchange website without any registered company details is a clear red flag that users could have noticed,” Karan Pujara, founder of scam defense platform ScamBuzzer, told Decrypt. 

Pujara said fraudsters often chase “quick money,” aiming to leave before being caught—and warned that in crypto, once funds are lost, they can move “across borders quickly,” making recovery difficult.

Even regulated platforms can fail investors, as seen with FTX, which held licenses but still misused customer funds, he noted.

Pujara advised investors to spread risk by using multiple exchanges and hardware wallets, noting, “Those who diversified kept their losses manageable, while those who concentrated all their funds in one place faced major losses.”

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September 27, 2025 0 comments
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NFT Gaming

Crypto Exchange KuCoin Hit With Record Anti-Money Laundering Penalty in Canada

by admin September 25, 2025



In brief

  • KuCoin was assessed a penalty of $19.5 million CAD ($14M USD) for failing to comply with Canadian anti-money laundering policies.
  • The exchange has appealed the decision in Canadian Federal Court.
  • KuCoin pleaded guilty to operating an unlicensed money-transmitting business in the U.S. in January, paying $300 million in fines and forfeitures.

Peken Global Limited, which operates as crypto exchange KuCoin, is facing a $14 million—over $19.5 million CAD—anti-money laundering penalty from Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC), the agency announced on Thursday. 

The Seychelles-based firm was hit with the penalty—the largest ever imposed by FINTRAC, according to Reuters—in July for failing to comply with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, FINTRAC said. 

“Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime is in place to protect the safety of Canadians and the security of Canada’s economy,” said FINTRAC Director and CEO Sarah Paquet, in a statement.



“FINTRAC works with businesses to help them understand and comply with their obligations under the Act,” she added. “We are also firm in ensuring that businesses continue to do their part, and we will take appropriate actions when they are needed.”

According to the release, KuCoin failed to register as a foreign services money business, did not report large virtual currency transactions above $10,000 CAD, and failed to report suspicious transaction reports even when there was grounds to do so. 

KuCoin has always strived to work constructively with regulators worldwide. We disagree with this decision on both substantive and procedural grounds, and we have pursued legal avenues by submitting an appeal before the Federal Court of Canada to ensure a fair outcome for KuCoin.…

— BC Wong (@BC_KuCoin) September 25, 2025

“While KuCoin respects the decision-making process and remains committed to regulatory compliance and transparency, it disagrees with both the finding that KuCoin is a Foreign Money Services Business and the penalty imposed, which KuCoin maintains is excessive and punitive in nature,” the exchange said in a statement.

The firm submitted an appeal before Canada’s Federal Court on substantive and procedural grounds. 

In January, KuCoin pleaded guilty to operating an unlicensed money transmitting business in the U.S. and agreed to pay almost $300 million in fines and forfeitures in a settlement.  

Its co-founders Chun Gan and Ke Tang were ordered to forfeit $2.7 million in cash, as well, and each left the firm after the settlement. 

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September 25, 2025 0 comments
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Charlie Kirk Shooting Suspect Charged as Prosecutor Seeks Death Penalty
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Charlie Kirk Shooting Suspect Charged as Prosecutor Seeks Death Penalty

by admin September 16, 2025


Utah County prosecutors on Tuesday charged Tyler Robinson in the shooting death of conservative activist Charlie Kirk at Utah Valley University, a murder officials say was politically motivated. They intend to seek the death penalty.

Utah County Attorney Jeff Gray announced the indictment at a midday news conference, listing charges of aggravated murder, felony discharge of a firearm causing serious bodily injury, and commission of a violent offense in the presence of a child. Robinson, 22, is also charged with two counts of obstruction and two counts of witness tampering.

“Charlie Kirk was murdered while engaging in one of our most sacred and cherished American rights,” Gray said. “The bedrock of our democratic republic is the free exchange of ideas in a search for truth, understanding, and a more perfect union.”

Gray said that the murder was considered an aggravated offense because it was believed to be motivated by the victim’s political expression. On the matter of the death penalty, he added: “I do not take this decision lightly, and it is a decision I have made independently as county attorney based solely on the available evidence and circumstances and nature of the crime.”

Robinson will make his first court appearance at 3 pm MST on Tuesday.

Kirk, 31, was fatally shot on September 10 while taking questions from students. The cofounder of Turning Point USA, he was credited with galvanizing young conservatives and playing a pivotal role in Donald Trump’s 2024 White House return.

The shooting sparked chaos on campus, where delayed and contradictory emergency alerts left many students and faculty scrambling in confusion. Vigils for Kirk have since been held in Arizona, New York, and Washington, among other states. Across the US, Kirk’s murder has become both a rallying cry for far-right retribution and fuel for an assault on civil society.

Investigators claim forensic evidence links Robinson to the shooting, with FBI director Kash Patel telling Fox & Friends that matching DNA was found on a towel wrapped around the rifle and on a screwdriver recovered from the rooftop where the fatal shot was fired. Patel also said investigators believe Robinson wrote a note of his alleged intent to kill Kirk, bolstering claims the attack was premeditated.

An indictment released Tuesday adds vivid details to the allegations. Prosecutors say surveillance footage captured Robinson climbing onto a campus rooftop, lying prone in a “sniper position,” and firing from nearly 160 yards away. Investigators recovered cartridges at the scene with hand-engraved messages, which prosecutors argue points to premeditation and motive.

Prosecutors also cited interviews with Robinson’s parents and roommate, who said he expressed anger that Kirk “spreads too much hate” and admitted he had “enough of his hatred.” The filing further alleges that Robinson told his roommate to stay silent if approached by police and that children were visible near the stage when Kirk was shot—factors prosecutors say aggravated the seriousness of the crime.

The indictment recounts an interview with Robinson’s mother, who told investigators her son had grown more political in the past year “and had started to lean more to the left,” the indictment claims, citing “pro-gay” and “trans-rights” views. She described him as becoming increasingly consumed by online debates and grievances, noting his fixation with political topics seemed to intensify in the weeks leading up to the shooting, the indictment says. She added that Robinson had also begun to date his roommate, a transgender woman, adding that his father has “very different political views.” The roommate is said to be fully cooperating with the government.



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September 16, 2025 0 comments
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