The U.S. Commodity Futures Trading Commission (CFTC) and South Korean regulators continue investigating the UK-based company Control-Finance Ltd, and its principal, Benjamin Reynolds, for a $147,000 Ponzi scheme involving Bitcoin. Regulators have so far failed to locate the defendants.

CFTC: Defendants Exploited Public Enthusiasm for Bitcoin
Regulators allege that the defendants’ illegal trading activities resulted in the defrauding of its customers for thousands of bitcoin, worth millions of US dollars.
In the U.S., the case is under the circuit of the CFTC Division of Enforcement’s Virtual Currency Task Force. Moreover, FinanceFeed reports that The CFTC has learned that the Ulsan District Prosecutors’ Office, South Korea, is also investigating these defendants. Specifically, according to a CFTC press release, dated June 18, 2019,

Bitcoin trading company Control Finance Limited and its founder Benjamin Reynolds, are said to have misappropriated 22,858.822 bitcoin – worth over £166 million – from more than 1,000 customers through…

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Source: https://thebitcoinnews.com/cftc-hunts-down-multi-million-dollar-crypto-ponzi-scammer/