A federal court has ordered Abner Alejandro Tinoco and his company, Kikit & Mess Investments LLC, to pay over $31 million for forex and cryptocurrency fraud. The order includes $6.2 million in restitution, $6.3 million in disgorgement, and an $18.8 million civil penalty. Tinoco and his firm defrauded 199 victims by misusing over $7.2 million in client funds, spending on personal luxuries rather than investing as promised. Previously, a permanent injunction was issued against Tinoco and Kikit & Mess, barring them from future violations of the Commodity Exchange Act and CFTC regulations. Additionally, Tinoco faced criminal charges, pleaded guilty, and was sentenced to 84 months in prison plus three years of supervised release. He was ordered to pay $9 million in restitution.
El Paso Man Fined $31M for Forex and Crypto Fraud
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