A U.S. Federal Court recently indicted Gelfman Blueprint Inc. (GBI) and its CEO Nicholas Gelfman to the tune of $ 2.5 million for running a Bitcoin Ponzi scheme. The matter is the first ever anti-fraud proceedings concerning Bitcoin taken up by the Commodity Futures Trading Commission (CFTC).
Court Levies $ 2.5 Million Against GBI and Gelfman
According to a CFTC press release published on Thursday (October 18, 2018), the defendants – GBI and Gelfman, will pay about $ 2.5 million in restitution and civil monetary penalties to the affected victims. Out of that sum, $ 554,734.48 and $ 492,064.53 is for restitution, while $ 1,854,000 and $ 177,501 is for civil monetary penalties.