CFTC secures $31M court order against digital asset fraud scheme that duped 14,000 investors

The U.S. Commodity Futures Trading Commission has obtained a court order requiring two individuals to pay over $31 million in connection with a digital asset and precious metals fraud that ensnared more than 14,000 participants across the country. How the scheme worked The operation promised returns exceeding 3% per week. Defendants claimed a sophisticated platform was automatically generating profits through digital asset and precious metals trading on participants’ behalf. In reality, no commodity trading occurred. The CFTC’s complaint, filed on July 31, 2023, alleged that defendants were not registered with the agency and were not conducting the trades they claimed to be making. The cast of defendants included Rene Larralde, Juan Pablo Valcarce, Brian Early, and Alisha Ann Kingrey, along with a platform called Fundsz. Over 14,000 people were solicited through the scheme, and at least 9,100 investors suffered estimated combined losses of $15.7 million. Where things stand now Larralde passed away during the proceedings. Valcarce reached a consent settlement with the CFTC. Fundsz was formally dismissed as a defendant in January 2026 after settlements were resolved with other partie...