A married couple from Tennessee has been ordered to pay a penalty of practically $7 million for fraud involving a commodity pool, the Commodity Futures Buying and selling Fee introduced on Thursday.
Commodity Pool Fraud Prices Couple Tens of millions, CFTC Says
In line with the September 25 press launch, married realtors Michael Griffis and Amanda Griffis satisfied 145 folks to contribute $6.5 million to a group pool generally known as “Blessings Via Crypto.”
.@CFTC Obtains Order for Over $5.5M Restitution for Victims in Commodity Pool Fraud by Tennessee Couple: https://t.co/UIOg9SvJlq
— CFTC (@CFTC) September 25, 2025
The duo claimed that the funds can be “used to commerce commodity futures on the Apex Buying and selling Platform with steerage from a person recognized solely as Coach Wendy.”
In actuality, the commodity pool was a replica of an abroad alternate and it’s nonetheless unclear who precisely “Coach Wendy” is.
“Greater than $4 million of the pool’s funds had been despatched to the illegitimate abroad alternate the place it was instantly despatched to a wide range of different accounts and offshore buying and selling platforms,” the press launch states.
“The remaining funds had been misappropriated for private bills, together with paying private money owed and shopping for a wide range of shopper items,” the press launch continues.
CFTC Bans Realtor Couple For Alleged Crypto Scheme
In line with a newly filed consent order within the U.S. District Courtroom for the Center District of Tennessee, the couple $5,528,121 in restitution to defrauded victims and a $1,355,232 civil financial penalty.
In whole, the duo must pay over $6.8 million in financial aid.
They’re additionally banned from buying and selling and registering with the CFTC and are prohibited from additional violations of the Commodity Alternate Act and CFTC laws.
“This case is a stark warning to be cautious about whom you belief along with your cash,” mentioned Charles Marvine, Performing Chief of the Division of Enforcement’s Retail Fraud and Common Enforcement Process Power. “If an funding alternative appears too good to be true, it virtually definitely is, for you and anybody you convey alongside.”
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