Jonathan Tetreault settled with the SEC for $780,795 for Trade Coin Club fraud.
On November 18th, Tetreault’s Consent Judgment was filed, effectively ending the SEC’s case against him.
Tetreault is one of four defendants named in an SEC lawsuit filed earlier this month. According to the regulator, the four con artists ran and/or promoted the Trade Coin Club Ponzi scheme.
Trade Coin Club was a $300 million MLM cryptocurrency Ponzi scheme that debuted in 2017. Tetreault was one of Trade Coin Club’s top earners in the United States.
Tetreault is permanently barred from violating the Securities and Exchange Act, according to the judgment.
Tetreault (right) has also been barred from engaging in any cryptocurrency-related income opportunity for the next five years.
Tetreault is seeking the following monetary compensation:
Disgorgement of $622,787
Prejudgment interest of $143,008 and a civil penalty of $15,000
Tetreault has been given until December 2nd to pay the SEC.
Continue reading for more on the SEC’s case against Douver Torres Braga, Joff Paradise, and Keleionalani Taylor.