Tennessee Couple Ordered To Pay Nearly $7 Million in Crypto Fraud Case
A Tennessee couple has been ordered to pay nearly $7 million in penalties for orchestrating a fraudulent cryptocurrency commodity pool. Michael and Amanda Griffis, both realtors, solicited $6.5 million from 145 investors under the guise of a trading venture called "Blessings Thru Crypto." The funds were purportedly managed by an elusive figure known as "Coach Wendy" on the Apex Trading Platform.
Investigations revealed the operation as a sham. Over $4 million was funneled to an offshore exchange and dispersed across opaque accounts, while the remainder financed personal luxuries and debts. The Commodity Futures Trading Commission (CFTC) secured a consent order in U.S. District Court, banning the couple from trading and mandating restitution.
