New York judge ruled that CFTC represented the US government in a $7 million bitcoin fraud case

On November 19th, New York judge Loretta A. Preska ruled that the US government had the right to intervene in a $7 million bitcoin fraud case in which the government would be represented by the Commodity Futures Trading Commission (CFTC). According to previous news, on November 18th, the US government submitted a series of documents to the Southern District Court of New York, requesting the court to authorize the US government to intervene against the CFTC's allegations against the Volantis head and retain civil proceedings until the end of the case. On September 30, the CFTC accused Jon Barry Thompson, head of the cryptocurrency company Volantis, of "deliberately or arbitrarily making false statements to customers, which is related to the purchase of more than $7 million worth of Bitcoin by customers." In a complaint filed in the District Court for the Southern District of New York, the CFTC stated that, contrary to Thompson's false statement, neither he nor the company he associated with owns or controls the bitcoin that will be delivered to the customer.