The U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action against the operators of the PrimeFX fraud scheme, which falsely pretended to be CySEC regulated investment firm. The alleged perpetrators are Uduakobong Udo Inyangudo a/k/a Alexander Uti Bassey, Nigeria, along with the U.S. residents Vanessa B. Okocha, Amen M. Okundaye, Charles A. Ochi, Diego I. Okeh, Daniell N. Liggins, Victor O. Edeh, and Tochukwu Edeh. PrimeFX solicited more than $1.2 million.
The complaint alleges that during the relevant period, from approximately June 2016 to February 2019, the PrimeFX (www.primefx.org) scheme and its perpetrators fraudulently solicited and subsequently misappropriated over $1.2 million from victims in the U.S. and other jurisdictions, as part of a coordinated scheme, for purported trading in foreign currency (forex) and Bitcoin. The perpetrators used the UK-registered entity PrimeFX Managed System Ltd to operate the scheme. The company was dissolved via compulsory strike-off in February 2020.
The CFTC seeks restitution, disgorgement, civil monetary penalties, trading and registration bans, and injunctions against further violations of the Commodity Exchange Act (CEA) and CFTC regulations, as charged.
