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Restitution

Legal news related to Restitution

25 articles

Regulatory
•4 min read

CFTC Secures $51 Million Judgment Against Precious Metals Fraud Operation

The CFTC and 30 state regulators secured a $51 million federal court judgment against Safeguard Metals LLC and its principal Jeffrey Ikahn for operating a nationwide precious metals fraud scheme. The judgment includes $25.6 million in victim restitution and an equal amount in civil penalties.

•Federal court entered final judgment for $51 million total against Safeguard Metals LLC and Jeffrey Ikahn
•Scheme involved nationwide precious metals fraud targeting investors
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State Court
•4 min read
Washington Supreme Court

Washington Supreme Court: Judges Must Consider Youth in Adult Resentencing

The Washington Supreme Court ruled that trial judges must meaningfully consider a defendant's youth when requested during resentencing proceedings. The decision in State v. Ellis involves an 18-year-old defendant who committed a serious crime in 2008 and later became eligible for full resentencing.

•Trial courts must meaningfully consider a defendant's youth when specifically requested during resentencing proceedings
•The case involved an 18-year-old defendant who became eligible for full resentencing after his offender score was reduced
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Regulatory
•4 min read

Tennessee Realtors Ordered to Pay $5.5M in Crypto Pool Fraud

A Tennessee realtor couple must pay over $5.5 million in restitution after defrauding 145 victims through a fake cryptocurrency trading operation called 'Blessings Thru Crypto.' The CFTC secured a consent order against Michael and Amanda Griffis for their $6.5 million commodity pool fraud scheme.

•Tennessee realtors Michael and Amanda Griffis must pay $5.5M restitution plus $1.4M penalty for commodity pool fraud
•The couple defrauded 145 victims of over $6.5 million through fake 'Blessings Thru Crypto' trading operation
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Regulatory
•4 min read

CFTC Secures $2.8M Settlement from Florida Firm for Commodity Pool Fraud

The Commodity Futures Trading Commission obtained a $2.8 million settlement from Florida-based Systematic Alpha Management LLC and its owner Peter Kambolin for defrauding commodity pool participants. The defendants systematically directed profitable trades to their own accounts while allocating losing trades to investor pools.

•CFTC secured $2.8 million total settlement including $1.2 million in direct restitution to fraud victims
•Defendants operated fraudulent scheme from 2019-2021 involving improper allocation of cryptocurrency and forex trades
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State Court
•4 min read
Wisconsin Supreme Court

Wisconsin Attorney Burkert Suspended 2 Years for Professional Misconduct

The Wisconsin Supreme Court suspended attorney Matthew V. Burkert for two years and ordered restitution of $24,358.50 following his no-contest plea to professional misconduct charges. The court modified a referee's recommended 18-month suspension, citing the severity of violations involving his former law firm.

•Wisconsin Supreme Court suspended attorney Matthew V. Burkert for two years, extending referee's 18-month recommendation
•Burkert ordered to pay $24,358.50 restitution for converting fees from four client representations at former firm
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