First Bitcoin Fraud Case Results in $2.5 Million Fine for Ponzi Scheme That Promised Outrageous Returns [Fortune]
OAKTREE CAPITAL GROUP (OAK)
Last oaktree capital group earnings: 7/25 08:30 am
Check Earnings Report
US:NYSE Investor Relations:
ir.oaktreecapital.com
Company Research
Source: Fortune
Nicholas Gelfman claimed to have a high-frequency trading computer program that could mine profits from Bitcoin, saying that his clients typically earned “7-11% monthly return on their Bitcoins.” He collected more than $600,000 from at least 80 eager investors from 2014 to 2016. The only problem? Gelfman and his Staten Island-based Gelfman Blueprint Inc. presented fake performance reports to investors and paid some of them using other investors’ money—the hallmark of a Ponzi scheme. Now Gelfman and his firm have been ordered to pay fines and restitution totaling $2.5 million, according to a release by the Commodity Futures Trading Commission. It’s the first Bitcoin-related fraud case for the CFTC. In the settlement, Gelfman admitted to the charges against him and his firm and agreed not to appeal the decision by the Southern District of New York. The CFTC said Gelfman’s victims may not receive restitution because he doesn’t have sufficient funds. We’re likely to
Show less
Read more
Impact Snapshot
Event Time:
OAK
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
---|---|---|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
Last Price | ||
VWAP | ||
High:
|
Max Up |
High:
|
Low:
|
Max Down |
Low:
|
%
|
Post news range |
%
|
|
Price change |
|
|
Price Change Percentage |
|
|
S&P 500 (SPX) |
|
%
|
Volume ratio |
%
|
Volume | ||
Ticks | ||
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
OAK alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
OAK alerts
High impacting OAKTREE CAPITAL GROUP news events
Weekly update
A roundup of the hottest topics