The CFTC has charged Vista Network Technologies

 

The CFTC has charged Vista Network Technologies with fraudulent solicitation of digital assets.   The agency claims that Vista solicited its clients to hand over $7M worth of cryptocurrency and misappropriated some of the funds. According to the CFTC, Vista Network Technologies advertised to customers that it would trade their digital assets and earn a 2.5% daily return or double in 80 days. The agency says that the company ran a Ponzi-like scheme where they would use money that new investors gave them to pay back old investors. The CFTC seeks restitution, disgorgement, monetary penalties, permanent trading and registration bans, and other legal measures that are applicable to the respective law. This case was filed in the U.S. District Court for the Eastern District of New York.