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CFTC pushes for $1.7M in penalties for Global Trading Club head

The CFTC has submitted a motion for default judgment against Rodrigo Jose Castro Molina, one of the heads of Global Trading Club (GTC).

The Court has agreed to impose the penalties proposed by the CFTC on the individuals behind crypto scam Global Trading Club.

The CFTC has informed the Court that several of the individuals behind fraudulent crypto scheme Global Trading Club have signed consent orders.

Customers were falsely promised a bonus for referring others, in the form of a multi-level marketing scheme.