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A couple from Tennessee has been mandated to pay a fine of nearly $7 million for fraudulent activities related to a commodity pool, as announced by the Commodity Futures Trading Commission on Thursday.
Commodity Pool Fraud Results in Millions in Losses for Couple, CFTC Reports
As stated in the press release dated September 25, married real estate agents Michael Griffis and Amanda Griffis persuaded 145 individuals to invest $6.5 million into a community pool referred to as “Blessings Thru Crypto.”
.@CFTC Obtains Order for Over $5.5M Restitution for Victims in Commodity Pool Fraud by Tennessee Couple: https://t.co/UIOg9SvJlq
— CFTC (@CFTC) September 25, 2025
The couple asserted that the capital would be “utilized to trade commodity futures on the Apex Trading Platform under the direction of an individual known only as Coach Wendy.”
However, the commodity pool was merely a replica of an offshore exchange, and the true identity of “Coach Wendy” remains unknown.
“Over $4 million of the pool’s assets were transferred to the fraudulent overseas exchange, where it was promptly redirected to various other accounts and offshore trading platforms,” the press release indicates.
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“The leftover funds were misappropriated for personal expenditures, including settling personal debts and purchasing a range of consumer items,” the press release adds.
CFTC Prohibits Realtor Couple Due to Alleged Crypto Scheme
According to a recently filed consent order in the U.S. District Court for the Middle District of Tennessee, the couple is required to pay $5,528,121 in restitution to the victims they defrauded, along with a civil monetary penalty of $1,355,232.
In total, the couple will be obligated to pay over $6.8 million in financial restitution.
They are also barred from trading and registering with the CFTC and are forbidden from any further violations of the Commodity Exchange Act and CFTC regulations.
“This case serves as a significant warning to exercise caution regarding whom you entrust with your finances,” stated Charles Marvine, Acting Chief of the Division of Enforcement’s Retail Fraud and General Enforcement Task Force. “If an investment opportunity appears too good to be true, it almost certainly is, for you and anyone you involve.”
The post Tennessee Couple Ordered To Pay Almost $7 Million In Crypto Trading Fraud Scheme appeared first on Cryptonews.
