CFTC Pushes $3.57M in Penalties against Forex Fraudster Casper Mikkelsen

Forex fraudster Casper Mikkelsen has failed to answer the case and probably has to pay a heavy monetary penalty at $3.57M for his misconduct, according to the file the United States Commodity Futures Trading Commission (CFTC) lodged with the New York Southern District Court this week.

Let's recall the case, since at least 2015, Casper Mikkelsen engaged in a fraudulent scheme to solicit money from victims who invested their funds with GNTFX and caused a loss of at least $1,191,286.87 to 106 of his clients.

At this week, the regulator has moved the Court to grant final judgment by default against Casper Mikkelsen, order permanent injunctive relief, and impose a restitution obligation and civil monetary penalty. The lawyer from the CFTC pushed Defendant Casper Mikkelsen to pay a penalty of triple the loss from the scam scheme he operated. According to the watchdog, a fine of $3,573,860.61 is reasonable.

The motion by the regulator supports the penalties outlined in the proposed default judgment. The Court has yet to decide whether to grant it.