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CFTC issues $54M default judgment against trader in crypto fraud scheme

Ackerman is now subjected to a ban from participating in any trading activities within CFTC-regulated markets and is prohibited from registering with the CFTC. Alongside these restrictions, the judgment mandates Ackerman to provide $27 million in restitution to the victims who suffered from his fraudulent digital asset trading scheme. Additionally, Ackerman is compelled to pay a $27 million civil monetary penalty, serving as a substantial financial consequence for his involvement in the deceptive scheme.

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Source: Cryptocurrency - investing.com

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