Fraud “Blessings of God Thru Crypto”: Tennessee couple fined 6.8 million USD

Michael and Amanda Griffis, two real estate agents at #Tennessee , have been ordered by a federal court to pay more than 6.8 million USD after defrauding 145 investors through a scheme called “Blessings of God Thru Crypto”.

According to the Commodity Futures Trading Commission (CFTC), from 2021–2023, the couple raised 6.5 million USD, promising high returns from trading crypto futures on the Apex platform with a mysterious “advisor” named Coach Wendy. However, this platform was a sham, and the identity of “Coach Wendy” has yet to be determined.

More than 4 million USD was transferred abroad through a fake exchange, while the remainder was used to pay personal debts and maintain the model #ponzi . Only about 855,000 USD was returned to some investors.

In addition to compensating the victims, the two defendants must also pay an additional 1.35 million USD in civil penalties and are permanently banned from trading commodities or registering with the CFTC.

This case shows that scammers often exploit trust within the community to embezzle money, similar to other cases that the CFTC has handled.

⚠️ Risk warning: Crypto investment carries many risks, especially when participating in unverified platforms. Investors need to thoroughly check legal aspects, allocate capital wisely, and prioritize cold wallets to minimize losses. #anh_ba_cong