U.S. Regulator CFTC obtains default entry against the BlueBitBanc scheme and its perpetrators

Two weeks after the U.S. Commodity Futures Trading Commission (CFTC) filed its request for a Certificate of Default, it secured a clerk’s entry of default against the BlueBitBanc scheme and its operators, FinanceFeed reported.

As reported by FinTelegram, the CFTC filed a Request for Certificate of Default with the New York Eastern District Court seeking the entry of a default against defendants Blake Kantor aka Bill Gordon, Nathan Mullins, BlueBitBanc, Blue Bit Analytic Ltd, G. Thomas Client Services and Mercury Cove, Inc., as well as against relief defendant Blue Wolf Sales Consultants. The defendants have failed to file an answer or otherwise respond to the CFTC Complaint.

In April 2018, the CFTC filed a Complaint for Injunctive Relief, Civil Monetary Penalties and other Equitable Relief charging Blake Harrison Kantor and Nathan Mullins and their entities Blue Bit Analytics Ltd, Mercury Cove, Inc., and G. Thomas Client Services with operating a  fraudulent scheme involving binary options and a virtual currency known as ATM Coin.

Besides the CFTC’s regulatory actions, the U.S. prosecutors are seeking a heavy prison sentence for Blake Kantor, who has pleaded guilty to wire fraud based upon his fraudulent binary options and cryptocurrency scheme. The U.S. government is looking to impose the maximum penalty on Kantor to demonstrate that it will clamp down hard on scammers, fraudsters and unauthorized brokers.