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CFTC Press Releases·

CFTC Secures Court Order Directing Louisiana Man and Arkansas Woman to Pay Over $31 Million for Digital Assets, Precious Metals Fraud

  • The U.S. District Court for the Middle District of Florida entered a default judgment against Brian Early & Alisha Ann Kingrey for their roles in a digital assets & precious metals fraud scheme involving the unincorporated entity Fundsz.
  • The court found Early & Kingrey made material misrepresentations regarding expected profits, risk of loss, & historical performance while falsely claiming funds were traded via a proprietary algorithm with 180-day withdrawal terms.
  • Early & Kingrey are ordered to pay $15,732,455 in restitution & a $15,752,455 civil monetary penalty totaling over $31 million combined with penalties for other defendants.
  • The court permanently enjoined Early & Kingrey from further violations of the Commodity Exchange Act & imposed permanent registration & trading bans.
  • Consent orders were entered against Rachel Larralde (personal representative for Rene Larralde's estate) & Juan Pablo Valcarce for their involvement in deceiving investors & misappropriating funds.
  • Rene Larralde, the founder & controlling person, is ordered to relinquish ownership of a personal residence & over $2.7 million in assets purchased with investor funds to the court-appointed receiver.
  • Valcarce is permanently enjoined from further violations of the Commodity Exchange Act & faces permanent registration & trading bans.
  • These judgments & orders resolve all remaining claims in the CFTC's action against the defendants.