The Commodity Futures Trading Commission (CFTC) has ordered the executives of My Big Coin to pay approximately $25.8 million in fines for their involvement in a fraudulent cryptocurrency scheme. A default judgment issued by a Massachusetts federal court mandates My Big Coin Pay, Inc., My Big Coin, Inc., and executives Mark Gillespie and John Roche to pay $19.32 million in civil penalties and $6.44 million to defrauded investors. The CFTC claims the company misled 28 investors between January 2014 and June 2017 and defrauded them out of over $6 million by falsely representing My Big Coin as being backed by gold and making misleading statements about its value and trading status. The CFTC warned that these investors might not recover their funds, as the alleged wrongdoers might not possess adequate assets. Additionally, another operator, Randall Crater, was previously ordered to pay $7.6 million in restitution to investors and is serving an eight-year prison sentence for multiple counts of fraud.

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