Following reports that Alan Friedland had chosen to resolve CompCoin fraud allegations with the CFTC, even in the middle of a trial, information on Friedland’s settlement is now available.
Friedland will provide CompCoin plaintiffs $1.2 million in compensation, following a court decision that approved the deal on March 24.
Friedland’s compensation is short by almost $400,000 compared to the $1.6 million CompCoin earned. A $600,000 civil penalty will help make up that difference in some measure.
Friedland receives reparations, a civil fine, and a lifetime ban from everything
Trading, engaging in any “commodity interests” transactions, having any “commodity interests” traded on his behalf, registering with the CFTC or requesting an exemption, and interacting with anybody who is registered with the CFTC are all prohibited.
To provide money to CompCoin victims, the NFA has been designated to monitor Friedland’s compliance with his reparation obligations.
The court authorized Friedland’s CompCoin fraud settlement on March 24. The agreement ends BehindMLM’s investigation into CompCoin fraud.
As part of our investigation into Friedland’s NRGY Ponzi scheme, we started reporting on it. Since then, it has changed into BuilderDefi, which started looking for investors on February 10.
According to website traffic research, BuilderDefi hasn’t gained much traction, like NRGY.
Whether US authorities pursue Friedland for NRGY and BuilderDefi once CompCoin fraud allegations were resolved remains to be seen.