The former CEO of a Miami-based investment firm has pleaded guilty to a conspiracy to commit commodities fraud involving crypto futures contracts. Peter Kambolin allegedly operated a “cherry-picking” scheme in which he marketed his firm as offering algorithmic trading strategies involving futures contracts, including both cryptocurrencies and commodities. In reality, Kambolin would cherry-pick profitable trades and assign them to his own accounts, while assigning unprofitable trades to investor accounts. He also allegedly misled clients about the firm's trading performance and the risks involved.
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USD1
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GRAM
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