The CFTC filed a federal court enforcement action, charging commodity fraud and misappropriation related to the ongoing solicitation of customers for a virtual currency known as My Big Coin (MBC). The complaint charges Randall Crater, Mark Gillespie and My Big Coin Pay, Inc. with misappropriating more than $6 million from customers by, among other things, transferring customer funds into personal bank accounts, and using those funds for personal expenses and the purchase of luxury goods. The action came days after the CFTC filed a federal civil enforcement action against Patrick K. McDonnell and CabbageTech Corp., charging them with fraud and misappropriation in connection with purchases and trading of Bitcoin and Litecoin and, separately, filed a civil enforcement action against Dillon Michael Dean and his company The Entrepreneurs Headquarters Limited, which were charged with engaging in a fraudulent scheme to solicit Bitcoin from members of the public, along with other charges.
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