A married couple from Tennessee has been ordered to pay a penalty of practically $7 million for fraud involving a commodity pool, the Commodity Futures Buying and selling Fee introduced on Thursday.
Commodity Pool Fraud Prices Couple Tens of millions, CFTC Says
Based on the September 25 press launch, married realtors Michael Griffis and Amanda Griffis satisfied 145 individuals to contribute $6.5 million to a group pool referred to as “Blessings Through Crypto.”
.@CFTC Obtains Order for Over $5.5M Restitution for Victims in Commodity Pool Fraud by Tennessee Couple: https://t.co/UIOg9SvJlq
— CFTC (@CFTC) September 25, 2025
The duo claimed that the funds could be “used to commerce commodity futures on the Apex Buying and selling Platform with steerage from a person recognized solely as Coach Wendy.”
In actuality, the commodity pool was a duplicate of an abroad trade and it’s nonetheless unclear who precisely “Coach Wendy” is.
“Greater than $4 million of the pool’s funds had been despatched to the illegitimate abroad trade the place it was instantly despatched to quite a lot of different accounts and offshore buying and selling platforms,” the press launch states.
“The remaining funds had been misappropriated for private bills, together with paying private money owed and shopping for quite a lot of client items,” the press launch continues.
CFTC Bans Realtor Couple For Alleged Crypto Scheme
Based on a newly filed consent order within the U.S. District Court docket for the Center District of Tennessee, the couple $5,528,121 in restitution to defrauded victims and a $1,355,232 civil financial penalty.
In complete, the duo must pay over $6.8 million in financial aid.
They’re additionally banned from buying and selling and registering with the CFTC and are prohibited from additional violations of the Commodity Trade Act and CFTC laws.
“This case is a stark warning to be cautious about whom you belief together with your cash,” stated Charles Marvine, Appearing Chief of the Division of Enforcement’s Retail Fraud and Basic Enforcement Activity Drive. “If an funding alternative appears too good to be true, it virtually definitely is, for you and anybody you carry alongside.”
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