United States Commodity Futures Trading Commission (CFTC) Fines 2 Individuals (Mark Gillespie & John Roche) & 2 Companies (My Big Coin Pay & My Big Coin) $25 Million for Digital Asset Fraud Scheme from 2014 to 2017, Fraudulently Offered Sale of Virtual Currency My Big Coin (MBC) & Falsely Claiming Backed by Gold, Co-Defendant Randall Crater Sentenced to 100 Months Jail Term & Fined $7.6 Million in Restitution
14th June | Hong Kong
The United States Commodity Futures Trading Commission (CFTC) has fined 2 individuals (Mark Gillespie & John Roche) & 2 companies (My Big Coin Pay & My Big Coin) $25 million for digital asset fraud scheme from 2014 to 2017, fraudulently offered sale of virtual currency My Big Coin (MBC) & falsely claiming backed by gold. Separately, co-defendant Randall Crater was sentenced to 100 months jail term & fined $7.6 million in restitution. United States CFTC (11/6/25): “The Commodity Futures Trading Commission today announced the U.S. District Court for the District of Massachusetts entered a final default judgement against Mark Gillespie of Michigan, John Roche of California, My Big Coin Pay, Inc., and My Big Coin, Inc., both of Nevada. The order requires Gillespie, My Big Coin Pay, Inc., My Big Coin, Inc., and Roche to pay, jointly and severally a $19,326,324 civil monetary penalty and $6,442,108 in restitution to defrauded victims in connection with their role in a digital asset fraud scheme. The order also imposes a permanent injunction against the defendants and bans them from trading in any CFTC-regulated markets; entering into any transactions involving commodity interests or digital asset commodities; and registering with the CFTC. Case Background – The default order finds from at least January 2014 through June 2017, Gillespie, My Big Coin Pay, Inc., My Big Coin, Inc., and Roche, together with co-defendant Randall Crater, one of the other co-defendants named in the CFTC’s amended complaint, operated a digital asset scheme in which they fraudulently offered the sale of a fully-functioning virtual currency, My Big Coin (MBC), a commodity in interstate commerce. The CFTC dismissed its enforcement action against named co-defendant Michael Kruger because of his death. The defendants obtained more than $6 million from at least 28 customers through fraudulent solicitations, including false and misleading claims and omissions about MBC’s value, usage, and trade status, and that MBC was backed by gold. Crater misappropriated virtually all the money solicited from customers, using those misappropriated funds wrongfully. The order resolves the claims against Gillespie, Roche, My Big Coin Pay, Inc., and My Big Coin, Inc., in the CFTC’s enforcement action. [See CFTC Press Release 7678-18] The court had previously entered a consent order resolving the CFTC’s claims against Crater, who is currently imprisoned for his role in the scheme. [See CFTC Press Release 9051-25]. The CFTC cautions that orders requiring repayment of funds to victims may not result in the recovery of any money lost because the wrongdoers may not have sufficient funds or assets. The CFTC will continue to fight vigorously for the protection of customers and to ensure the wrongdoers are held accountable. Parallel Criminal Action – On January 18, 2022, a grand jury returned an eight-count superseding indictment charging Crater with wire fraud, unlawful monetary transactions, and operating an unlicensed money transmitting business based on the same conduct alleged in the CFTC’s amended complaint. [United States v. Randall Crater, No. 1:19-cr-10063-DJC (D. Mass. Jan. 18, 2022)).] Crater was found guilty of those charges on July 21, 2022, and was sentenced to 100 months in prison and ordered to pay $7,668,317.50 in restitution to defrauded customers and to forfeit $7,668,317.50, which represented the proceeds he received from his violations.”
“ United States Commodity Futures Trading Commission (CFTC) Fines 2 Individuals (Mark Gillespie & John Roche) & 2 Companies (My Big Coin Pay & My Big Coin) $25 Million for Digital Asset Fraud Scheme from 2014 to 2017, Fraudulently Offered Sale of Virtual Currency My Big Coin (MBC) & Falsely Claiming Backed by Gold, Co-Defendant Randall Crater Sentenced to 100 Months Jail Term & Fined $7.6 Million in Restitution “
United States Commodity Futures Trading Commission (CFTC) Fines 2 Individuals (Mark Gillespie & John Roche) & 2 Companies (My Big Coin Pay & My Big Coin) $25 Million for Digital Asset Fraud Scheme from 2014 to 2017, Fraudulently Offered Sale of Virtual Currency My Big Coin (MBC) & Falsely Claiming Backed by Gold, Co-Defendant Randall Crater Sentenced to 100 Months Jail Term & Fined $7.6 Million in Restitution
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