NY Court sets trial date for alleged binary options, virtual currency scammer Blake Kantor
Jury selection and trial date are set for May 30, 2019.
There is a brief update on the criminal proceedings against Blake Kantor, accused of perpetrating a binary options and virtual currency scam.
The New York Eastern District Court has determined the date for the trial of Kantor. Jury selection and trial date are set for May 30, 2019. In the event the defendant pleads guilty, the trial date will be converted into a sentencing date.
The defendant is accused of having solicited potential customers through emails, phone calls, and a website to purchase illegal off-exchange binary options via companies such as Blue Bit Banc. The defendants sought to cover up their misappropriation by inviting customers to transfer their binary options account balances into a virtual currency known as ATM Coin. The scam allegedly started in April 2014.
Let’s recall that there is also a civil action against Kantor which has been brought by the Commodity Futures Trading Commission (CFTC). In May this year, the civil action was put on hold pending developments in the criminal case. The civil action was administratively closed with leave to reopen within 45 days after Blake Kantor enters a plea or there is a verdict at the trial of his related criminal case.
The CFTC, however, shall be permitted to continue to receive and review documents obtained from third party subpoenas already issued. The regulator will also be permitted to file a Motion seeking the Court’s assistance through a Request for International Judicial Assistance to obtain records from the Bank of Nevis in Turks and Caicos for the Blue Bit Analytics, Ltd. account. The CFTC is also permitted to issue a survey to Blue Bit Banc investors to verify their investments with the defendants.
The asset freeze imposed on the defendants shall stay in place pending a final resolution of this civil case. Also, during the stay, the Permanent Injunction Order remains in full force.
Under the Permanent Injunction, the defendants are ordered to take down all internet websites used by them to advertise, market, promote or offer for sale any transactions involving “commodity interests” and related services and to withdraw the registration for all domain names for such websites, including, but not limited to, any websites promoting binary options or virtual currency investments and the website identified as: www.bluebitbanc.com.