Jonathan Tetreault has settled Commerce Coin Membership fraud with the SEC for $780,795.
Tetreault’s Consent Judgment was filed on November 18th, resolving the SEC’s case in opposition to him.
Tetreault is one among 4 defendants sued by the SEC earlier this month. The regulator alleges the 4 scammers ran and/or promoted the Commerce Coin Membership Ponzi scheme.
Commerce Coin Membership was a $300 million MLM crypto Ponzi launched in 2017. Tetreault was one among Commerce Coin Membership’s high US earners.
As per Tetreault’s judgment, he’s completely restrained from committing additional violations of the Securities and Alternate Act.
Tetreault has additionally been banned from collaborating in any crypto associated earnings alternative for 5 years.
On the cash facet of issues Tetreault is up for:
- $622,787 in disgorgement
- $143,008 in prejudgment curiosity and
- a $15,000 civil penalty
Tetreault has been ordered to fulfill fee to the SEC by December 2nd.
Keep tuned for continued protection of the the SEC’s case in opposition to Douver Torres Braga, Joff Paradise and Keleionalani Taylor.
