Head of Crypto-Related Scam Faces up to 20 Years in Jail Over Investor Fraud

Blake Kantor, a New Jersey businessman, will face up to twenty years’ imprisonment after pleading guilty to a New York federal judge for defrauding investors in binary options and virtual currency ATM Coin. Kantor has also admitted to obstructing of a federal investigation into his Ponzi schemes, US Department of Justice said on Monday.

In April this year, Commodity Futures Trading Commission (CFTC) charged Kantor, aka Bill Gordon, for offering illegal off-exchange binary options through his firm Blue Bit Analytics (BBB). The defendant raised $1.5 million from around 700 investors between 2014 and 2017. BBB’s computer software was manipulating the trading operations in favor of the company. Kantor and his staff also convinced some o…

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