In recent years, the frequent occurrence of network investment fraud, high returns, bring you "rich"? How beautiful you think! This kind of fraud is mainly tempted by high returns, using the psychology of investors who crave high returns to guide investors to increase the amount of investment step by step, and the amount of fraud is generally ranging from tens of thousands to millions.

Recently, the U.S. Commodity Futures Trading Commission (CFTC) officially announced that Gregory Demetrius Bryant, Jr., a resident of Hawaii. A civil enforcement lawsuit was filed accusing him of operating an illegal foreign exchange platform and defrauding investors of their funds.

According to the CFTC, Bryant operated a foreign exchange trading business under a fake company called Surrey Libor Capital, LLC, with the platform name Gregory Surrey England.

From September 2016 to at least June 2020, he falsely advertised his trading experience and success, claiming to have provided investors with monthly returns of $6,000 to $8,000 through his platform, and even promising investors a return of approximately 60 to 80 percent per month from their trading activity.

Bryant defrauded about three dozen investors out of $426,000.

According to the CFTC, by the time Bryant was arrested, he had misappropriated more than $350,000 for personal expenses such as rent, shopping and travel, while using an additional $60,000 for the Ponzi scheme, which was used to deceive investors into believing that their investments would yield profits. But in reality, the investors' money was diverted by Bryant for his own use.

Bryant, a serial financial criminal, has gone bankrupt three times in the past.

The CFTC charged Bryant with fraudulent solicitation, misappropriation, illegal trading in bulk futures and failure to register with the CFTC. The CFTC wants Bryant to return his ill-gotten gains, which is unlikely, and also slapped him with a civil fine, a permanent trading and registration ban, and a permanent injunction.