The Commodity Futures Trading Commission (CFTC) has charged Michael Griffis and Amanda Griffis, owners of EXIT Realty Screamin' Eagle in Clarksville, Tennessee, with defrauding more than 100 people using a digital asset commodity pool called "Blessings of God Thru Crypto." The pair allegedly raised over $6 million by connecting colleagues and customers, offering a way to pool funds to trade digital asset futures contracts.
According to the CFTC, the duo falsely claimed that pool funds were safe and under their control, promising high returns. They used their personal and professional relationships in the real estate business to convince victims that the scheme was legitimate.
The Griffises are accused of mixing commodity pool funds with personal funds, transferring them to Michael Griffis' account and then to his personal Coinbase account. These funds were converted into digital assets, such as Bitcoin or USDT, and transferred to the "Apex Trading Platform" for futures trading. Around $855,000 was paid out to some pool participants, which, according to the CFTC, was related to Ponzi-style payments.
The CFTC's legal action emphasizes its commitment to holding accountable those who exploit victims through fraudulent schemes.
