US CFTC Seizes $26 Million in Cryptocurrency from Cryptocurrency Ponzi Scheme Perpetrator

The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Sam Ikruti, owner of the cryptocurrency hedge fund Jafir LLC, for allegedly stealing $1,800,000 in cryptocurrency from him in connection with a Ponzi scheme.
The company seized $2.6 billion worth of cryptocurrency. According to reports, Jaffir LLC, an Oregon-based company, had previously offered 18% annual returns to over 170 investors.
The CFTC filed a lawsuit in 2022 alleging that the company defrauded investors of $44 million (approximately 6.4 billion yen) through a Ponzi scheme.
In July, a federal judge indicted Sam Ikruti for violating a cryptocurrency Ponzi scheme that bilked investors of $84 million (approximately
The court ordered the payment of 12.2 billion yen in damages.