Jonathan Tetreault has paid $780,795 to the SEC to settle fraud charges against Trade Coin Club.
The SEC’s case against Tetreault was over when the Consent Judgment was filed on November 18.
The SEC sued four people earlier this month, and Tetreault is one of them. The government agency says that the Trade Coin Club Ponzi scheme was run by or promoted by four scammers.
Trade Coin Club was a $300 million crypto MLM Ponzi scheme that started in 2017. Tetreault was one of the top US earners at Trade Coin Club.
Tetreault’s ruling says that he can never again break the Securities and Exchange Act.
Tetreault (on the right) has also been told he can’t make money with cryptocurrency for the next five years.
In terms of money, Tetreault can expect:
$622,787 in disgorgement
There was pre-judgment interest of $143,008 and a civil penalty of $15,000.
Tetreault has been told by the SEC that he needs to pay them by December 2.
The SEC’s case against Douver Torres Braga, Joff Paradise, and Keleionalani Taylor will be talked about more in the news.
