The Commodity Futures Trading Commission (CFTC) has joined Gemini Trust Company LLC in a motion for relief from judgment in the case CFTC v. Gemini Trust Company LLC, which was initially filed in June 2022 in the U.S. District Court for the Southern District of New York. The CFTC's review concluded that the complaint against Gemini should not have been filed under current enforcement standards, citing several issues including the credibility of the whistleblower's account and the investigation's focus on Gemini as a victim of fraud rather than the alleged fraudsters. The CFTC determined that the enforcement of the consent order's prospective provisions is not in the public interest, as the non-prospective provisions have already been satisfied. The parties are requesting the court to vacate the consent order regarding its prospective provisions.
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CFTC and Gemini Trust Company Seek Relief from Judgment
The CFTC has filed a motion alongside Gemini Trust Company LLC for relief from a judgment in a case that began in June 2022. Following a review, the CFTC found that the original complaint against Gemini was not warranted under current enforcement standards and is seeking to vacate the consent order's prospective provisions.
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CFTC Joins Gemini Trust Company LLC in Motion for Relief from Judgment
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CFTC and Gemini Trust Company Seek Relief from Judgment
