CFTC insists on $3.6M fine for Forex fraudster Casper Mikkelsen

The legal action brought by the United States Commodity Futures Trading Commission (CFTC) against GNTFX operator Casper Mikkelsen continues at the New York Southern District Court. Mikkelsen is charged with engaging in an FX fraud scheme and registration violations.

The regulator has pushed for a default judgment against the Forex fraudster and is now seeking to defend the proposed civil monetary penalty (CMP) of $3,573,860.

According to documents filed by the CFTC on February 7, 2022, there is no basis in the record of Mikkelsen’s net worth to support the consideration of Mikkelsen’s ability to pay and, instead, the record has ample aggravating factors warranting a fine reflecting triple the monetary gain to Casper Mikkelsen.

The CFTC explains that the aggravating circumstances of this matter include:

  1. perpetrating a fraudulent scheme for a minimum of at least two years;

  2. fraudulently soliciting 106 victims to perpetrate this scheme;

  3. stealing funds from 106 victims totaling $1,191,286.87;

  4. creating a website with false information and creating false account statements to conceal the fraud;

  5. Mikkelsen changing his name to Casper Muller after the collapse of his scheme;

  6. not responding to client inquiries, making no attempt to return their funds, and showing no remorse or taking accountability for his actions;

  7. violating core provisions of the Commodity Exchange Act; and

  8. failing to respond to the complaint and summons despite having full knowledge of this lawsuit.

The CFTC says that these factors warrant the Court imposing the maximum fine.

Based on the uncontroverted facts, relevant case law, and procedural posture and record of this case, the Court should order a CMP of triple the monetary gain to Defendant in the amount of $3,573,860.61, the CFTC concludes.

The CFTC complaint alleges that from at least 2015 to the present, Mikkelsen engaged in a fraudulent scheme that solicited funds from at least 101 individuals and entities to invest with a supposed company called GNTFX to trade retail leveraged or margined Forex. Mikkelsen misappropriated at least some clients’ funds.

As alleged, most clients deposited their funds into bank accounts in the U.S., while others deposited their funds into an overseas account and/or with an American e-commerce company for the purpose of trading forex. Client funds were withdrawn from the U.S. bank accounts by Mikkelsen through his debit card, as well as transferred from the U.S. bank accounts to an overseas bank, and from there to a Bitcoin address for Mikkelsen’s benefit. Mikkelsen then used the money to pay certain clients purported forex trading profits as is typical in a Ponzi scheme.

The complaint also alleges that Mikkelsen was required to register as a commodity trading advisor but failed to do so.

Posted on

219 Replies to “CFTC insists on $3.6M fine for Forex fraudster Casper Mikkelsen”

  5. Wow, wonderful weblog layout! How lengthy have you been blogging for?

    you made running a blog glance easy. The entire look of your
    site is excellent, as well as the content! You can see similar here dobry sklep

  6. Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.

  8. I know this if off topic but I’m looking into starting my
    own weblog and was wondering what all is required to get setup?
    I’m assuming having a blog like yours would cost a pretty penny?
    I’m not very internet savvy so I’m not 100% certain. Any recommendations or advice would be greatly appreciated.
    Appreciate it

  9. Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.

  16. I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.

  20. These are in fact fantastic ideas in about blogging. You have touched some fastidious points here. Any way keep up wrinting.

  21. Thank you for the auspicious writeup. It in fact was a amusement account it. Look advanced to more added agreeable from you! By the way, how could we communicate?

  22. Hello just wanted to give you a quick heads up. The text in your content seem to be running off the screen in Opera. I’m not sure if this is a format issue or something to do with internet browser compatibility but I thought I’d post to let you know. The style and design look great though! Hope you get the issue fixed soon. Kudos

  23. I enjoy what you guys are up too. This sort of clever work and reporting! Keep up the superb works guys I’ve incorporated you guys to our blogroll.

  24. Hey there just wanted to give you a quick heads up. The words in your content seem to be running off the screen in Safari. I’m not sure if this is a format issue or something to do with browser compatibility but I figured I’d post to let you know. The design and style look great though! Hope you get the problem solved soon. Many thanks

  25. Howdy! Someone in my Facebook group shared this site with us so I came to give it a look. I’m definitely loving the information. I’m bookmarking and will be tweeting this to my followers! Exceptional blog and excellent design and style.

  26. Hey just wanted to give you a quick heads up. The text in your post seem to be running off the screen in Opera. I’m not sure if this is a formatting issue or something to do with web browser compatibility but I thought I’d post to let you know. The style and design look great though! Hope you get the issue resolved soon. Many thanks

  27. Searching for reliable answers to a big candy casino?

    We provide detailed, trustworthy information backed by real casino experts.
    Our goal is to help you enjoy secure gambling
    with top-tier platforms that value integrity. Expect transparent gameplay, verified promotions, and 24/7 support when you follow our recommendations.
    Join thousands of players choosing fair, exciting, and bonus-rich environments for their online casino journey.

  28. Want to better understand don laughlin’s riverside resort hotel and casino?
    You’ve come to the right place. We offer honest advice, updated facts, and casino options that prioritize
    safety, fairness, and massive rewards. Each platform we recommend is licensed, secure, and offers bonuses that actually benefit the players.
    From welcome packages to ongoing promos, we help you get more value while enjoying fair play and exciting online gaming adventures.

  29. Searching for reliable answers to where to watch casino royale?

    We provide detailed, trustworthy information backed by real
    casino experts. Our goal is to help you enjoy secure gambling with top-tier
    platforms that value integrity. Expect transparent gameplay, verified promotions, and 24/7 support when you
    follow our recommendations. Join thousands of players choosing
    fair, exciting, and bonus-rich environments for their online casino journey.

  30. Want to better understand how to play blackjack at a casino?

    You’ve come to the right place. We offer honest advice,
    updated facts, and casino options that prioritize safety, fairness, and massive rewards.
    Each platform we recommend is licensed, secure, and offers bonuses that
    actually benefit the players. From welcome packages to ongoing promos, we help
    you get more value while enjoying fair play and exciting online gaming adventures.

  31. Curious about how many casinos are in las vegas?
    Discover everything you need to know with our expert-approved guides.

    We focus on fair gameplay, responsible gambling, and secure platforms you can trust.

    Our recommendations include casinos with top-rated bonuses, excellent
    support, and real player reviews to help you get the most out of every experience.
    Whether you’re new or experienced, we make sure you play smarter
    with real chances to win and safe environments.

  32. Want to better understand how to play casino slot machines?
    You’ve come to the right place. We offer honest advice, updated facts, and casino options that prioritize
    safety, fairness, and massive rewards. Each platform we recommend is licensed, secure, and offers bonuses that
    actually benefit the players. From welcome packages to ongoing promos, we help you get more
    value while enjoying fair play and exciting online gaming
    adventures.

  35. Thank you for the good writeup. It in fact was a amusement account it. Look advanced to far added agreeable from you! By the way, how could we communicate?

  36. Thank you for the good writeup. It in fact was a amusement account it. Look advanced to more added agreeable from you! However, how could we communicate?

  41. Hello very nice website!! Man .. Beautiful .. Wonderful ..
    I’ll bookmark your web site and take the feeds additionally?
    I’m happy to find so many helpful info here in the put
    up, we need work out more techniques in this regard, thanks for sharing.
    . . . . .

  64. chile football team offers new Australian users an exciting opportunity to kickstart their gaming journey with a $100 sign-up bonus. By registering a new account, players can instantly claim this generous bonus to explore a wide range of casino games, including slots, table games, and live dealer options. The platform ensures a safe, fair, and secure gaming environment, making it easy for newcomers to enjoy their first experience while maximizing their potential winnings right from the start.

  70. I’ve been browsing online more than 3 hours today, yet I never found any interesting article like yours. It’s pretty worth enough for me. In my view, if all web owners and bloggers made good content as you did, the internet will be a lot more useful than ever before.|

  71. I’ve been surfing online more than 3 hours today, yet I never found any interesting article like yours. It’s pretty worth enough for me. In my opinion, if all website owners and bloggers made good content as you did, the web will be a lot more useful than ever before.|

  88. excellent put up, very informative. I wonder why the opposite specialists of this sector don’t understand this.
    You should proceed your writing. I’m confident, you’ve a great readers’ base already!

  122. Hi there, I log on to your new stuff on a regular basis. Your writing style is witty, keep doing what you’re doing!

  125. Hi there, I log on to your blog like every week. Your writing style is awesome, keep doing what you’re doing!

  129. I was recommended this website by my cousin. I’m not sure whether this post is written by him as nobody else know such detailed about my trouble. You are incredible! Thanks!

  130. Because the admin of this website is working, no question very rapidly it will be famous, due to its quality contents.

  133. Hi there, just became alert to your blog through Google, and found that it’s really informative. I am gonna watch out for brussels. I’ll appreciate if you continue this in future. A lot of people will be benefited from your writing. Cheers!

  134. For the reason that the admin of this web page is working, no question very quickly it will be famous, due to its feature contents.

  136. Hello there, just became alert to your blog through Google, and found that it is truly informative. I am gonna watch out for brussels. I will be grateful if you continue this in future. Many people will be benefited from your writing. Cheers!

  137. Hi there, just became aware of your blog through Google, and found that it’s truly informative. I am going to watch out for brussels. I will be grateful if you continue this in future. Many people will be benefited from your writing. Cheers!

  145. Magnificent web site. Plenty of useful information here. I’m sending it to several friends ans additionally sharing in delicious. And obviously, thank you in your sweat!

  152. Do you have a spam problem on this website; I also am
    a blogger, and I was wondering your situation; many of us have created some nice practices and we are looking
    to exchange methods with other folks, why not shoot me an email if interested.

  154. Normalerweise beträgt die Mindesteinzahlung €10, die Mindestauszahlung €20 und die tägliche Auszahlungsobergrenze
    beträgt standardmäßig €5.000. In Deutschland
    und dem Rest des EWR verwenden wir 3D Secure 2 mit PSD2
    Strong Customer Authentication. Ihr Konto und Ihr Guthaben sind im Mystake Casino
    immer sicher, da diese Sicherheitsmaßnahmen immer aktiviert sind.
    Für sichere Zahlungen und Spielerschutz sind im Mystake Casino jetzt eine Zwei-Faktor-Authentifizierung und
    eine eindeutige Passphrase verfügbar.
    Mystake verfügt über eine große Auswahl an Casinospielen mit über 7000 verschiedenen Spielen. Er ermöglicht es allen seinen Kunden, direkt mit Bitcoin, Ethereum und vielen anderen Kryptowährungen zu spielen. Dies erleichtert die
    Verwendung, insbesondere für neue oder Gelegenheitsspieler in Deutsch-Regionen.
    Bei Mystake zahlt sich Engagement aus, denn sie verfügen über ein mehrstufiges Treuesystem, das Menschen belohnt,
    die regelmäßig im Casino spielen. Die Verwendung von wöchentlichem Cashback kann
    Ihnen helfen, schlechte Phasen zu überstehen und
    länger zu spielen, egal ob Sie viel oder nur ab und zu spielen. Wenn Sie mit
    den neuesten Bedingungen und Spielen Schritt halten, die Sie spielen können, kann dies
    einen großen Unterschied in Ihrem €-Guthaben machen.
    Die richtigen lokalen Begriffe werden automatisch angezeigt, wenn Sie die deutsche Benutzeroberfläche verwenden. Um die Dinge klar
    und einfach zu halten, teilen wir aktive Codes an mehr als einem
    Ort. Für die meisten Mystake Casino Codes reicht eine Mindesteinzahlung von €20 aus, es sei
    denn, die Aktion sagt ein höheres Limit. Mit
    den Casino-Einstellungen können Sie die Benachrichtigungen steuern,
    die Sie für zeitlich begrenzte Drops und Renneinladungen erhalten. Für jedes €1, das Sie auf
    bestimmte Slots setzen, erhalten Sie einen Punkt.
    Bevor Sie beginnen, schauen Sie sich den Beitragshinweis auf der Promo-Karte oder die Seite mit den Bonusbedingungen in der Casino-Lobby an, um sicherzustellen, dass Sie abgesichert sind.

    References:
    https://online-spielhallen.de/bwin-casino-promo-code-maximieren-sie-ihr-spielerlebnis/

  155. Magnificent site. Lots of useful info here. I’m sending it to some friends ans also sharing in delicious. And of course, thank you to your sweat!

  157. Subsequent deposits bring even more excitement, with 100% up to A$1,300 and 75 free spins on the second deposit, and 150% up to A$4,000 plus 150 free spins on the fourth.
    With such an extensive selection and cutting-edge technology, SkyCrown provides an exhilarating experience, where it all clicks – Skycrown Casino.
    Moreover, SkyCrown offers provably fair systems on its crash
    titles, but these lack native verification tools.
    With fast payouts, support that’s available day and night, and a licence that adds
    an extra layer of trust, SkyCrown positions itself as a competitive choice in the Aussie iGaming space.
    From licences and payment methods to supported currencies and withdrawal speeds, this section covers everything
    at a glance. Before you dive into the pokies lobby
    or claim your welcome deal, it’s worth knowing the key details about
    SkyCrown Casino. Another highlight is how stable the mobile
    platform feels. The casino platform is fully optimised for both Android
    and iOS, so you don’t need to download heavy software or clunky apps.

    At Skycrown Casino, players can explore a vast array of skycrown pokies that cater to all kinds of preferences.
    As an online casino reviewer, I know that pokies are a significant part of
    any casino’s game library. As an expert in online casino reviews, I often evaluate the range and accessibility of bonuses and
    promotions.

    References:
    https://blackcoin.co/casino-crypto-first-online-casino-review/

  161. Hello! I’ve been reading your blog for a while now and finally got the courage to go ahead and give you a shout out from Lubbock Texas! Just wanted to tell you keep up the excellent work!

  162. Hola! I’ve been reading your site for a long time now and finally got the bravery to go ahead and give you a shout out from Kingwood Tx! Just wanted to say keep up the great job!

  163. Hello, I check your new stuff daily. Your writing style is awesome, keep doing what you’re doing!

  168. A motivating discussion is worth comment. I believe that you ought to write more about this subject matter, it might not be a taboo subject but usually folks don’t discuss these subjects. To the next! Best wishes!!

  169. I’ve been browsing online more than 4 hours today,
    yet I never found any interesting article like yours.
    It’s pretty worth enough for me. In my opinion, if all site owners and bloggers made good
    content as you did, the internet will be a lot more useful than ever before.

  170. What’s up, I log on to your new stuff regularly. Your writing style is awesome, keep doing what you’re doing!

  171. Hello, I log on to your blogs on a regular basis. Your writing style is awesome, keep up the good work!

  175. I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.

  176. Howdy! This blog post couldn’t be written any better!
    Going through this article reminds me of my previous roommate!
    He continually kept talking about this. I’ll forward this article to him.
    Fairly certain he’s going to have a very good read. Thank you for sharing!

  177. I am actually glad to glance at this weblog posts which includes lots of useful facts,
    thanks for providing these information.

  178. It’s great that you are getting ideas from this article as well as from our discussion made here.

  182. After I originally left a comment I seem to have clicked on the -Notify me when new comments are added- checkbox and now every time a comment is added I recieve 4 emails with the exact same comment. Perhaps there is an easy method you can remove me from that service? Cheers!

  184. Greetings! Very useful advice in this particular post!
    It is the little changes which will make the most significant changes.

    Thanks a lot for sharing!

  185. After I initially left a comment I seem to have clicked the -Notify me when new comments are added- checkbox and from now on whenever a comment is added I receive 4 emails with the same comment. Is there a means you are able to remove me from that service? Kudos!

  186. After I originally left a comment I seem to have clicked the -Notify me when new comments are added- checkbox and from now on every time a comment is added I get 4 emails with the same comment. There has to be a way you are able to remove me from that service? Appreciate it!

  187. After I originally left a comment I appear to have clicked the -Notify me when new comments are added- checkbox and from now on each time a comment is added I recieve four emails with the same comment. Perhaps there is a means you can remove me from that service? Thank you!

  188. After I originally left a comment I seem to have clicked the -Notify me when new comments are added- checkbox and from now on every time a comment is added I recieve four emails with the same comment. Perhaps there is a means you can remove me from that service? Many thanks!

  189. When I initially left a comment I appear to have clicked on the -Notify me when new comments are added- checkbox and from now on each time a comment is added I recieve 4 emails with the same comment. Is there an easy method you can remove me from that service? Thank you!

  190. When I originally left a comment I appear to have clicked the -Notify me when new comments are added- checkbox and from now on every time a comment is added I receive four emails with the exact same comment. Perhaps there is an easy method you can remove me from that service? Thanks!

  191. When I originally commented I appear to have clicked on the -Notify me when new comments are added- checkbox and now whenever a comment is added I receive four emails with the same comment. There has to be an easy method you can remove me from that service? Thanks!

  192. When I originally commented I appear to have clicked on the -Notify me when new comments are added- checkbox and now every time a comment is added I get 4 emails with the exact same comment. There has to be a way you are able to remove me from that service? Thank you!

  193. When I originally left a comment I seem to have clicked on the -Notify me when new comments are added- checkbox and now each time a comment is added I receive four emails with the exact same comment. There has to be an easy method you can remove me from that service? Cheers!

  194. I’m not that much of a internet reader to be honest but
    your sites really nice, keep it up! I’ll go ahead and bookmark your website to come back in the future.
    All the best

  195. An impressive share! I’ve just forwarded this
    onto a co-worker who has been doing a little research on this.
    And he actually ordered me breakfast simply because I found
    it for him… lol. So let me reword this…. Thank YOU
    for the meal!! But yeah, thanks for spending the time to discuss this
    subject here on your web page.

  197. I love your blog.. very nice colors & theme. Did you create this website yourself or did you hire someone to do it for you? Plz respond as I’m looking to construct my own blog and would like to know where u got this from. cheers

  198. This is a topic which is close to my heart… Take care! Exactly where are your contact details though?

  200. This is very interesting, You’re an excessively skilled blogger.
    I have joined your feed and look forward to in quest of extra of your wonderful post.
    Additionally, I have shared your web site in my
    social networks

  201. I have been browsing on-line greater than 3
    hours nowadays, yet I by no means discovered any interesting article like
    yours. It is lovely value sufficient for me. In my view, if all web owners and bloggers made
    just right content as you probably did, the web might be much more
    useful than ever before.

  203. I got this web page from my friend who told me regarding this site and now this time I am browsing this web site and reading very informative posts at this place.

  204. Hi Dear, are you really visiting this web site daily, if so after that you will definitely get fastidious know-how.

  207. I do not even know how I ended up here, but I thought this post was good. I don’t know who you are but certainly you are going to a famous blogger if you are not already 😉 Cheers!

  208. Hi there, There’s no doubt that your web site could possibly be
    having web browser compatibility issues. Whenever I look at
    your blog in Safari, it looks fine but when opening
    in IE, it’s got some overlapping issues. I simply wanted to give
    you a quick heads up! Other than that, fantastic blog!

  209. This excellent website certainly has all the information and facts I wanted about this subject and didn’t know who to ask.

  212. I always used to study paragraph in news papers but now as I am a user of
    web so from now I am using net for posts, thanks to web.

  213. If you desire to obtain a good deal from this post then you have to apply these techniques to your won weblog.

  214. Pretty great post. I simply stumbled upon your blog and
    wanted to mention that I have truly loved surfing
    around your weblog posts. After all I’ll be subscribing to your feed
    and I’m hoping you write again soon!

  215. Hi it’s me, I am also visiting this web site daily, this website is really fastidious and the visitors are genuinely sharing good thoughts.

  216. Does your website have a contact page? I’m having
    trouble locating it but, I’d like to shoot you
    an email. I’ve got some ideas for your blog you might be interested in hearing.
    Either way, great website and I look forward to
    seeing it improve over time.

  217. Hi there everyone, it’s my first visit at this website, and paragraph is in fact fruitful designed for me, keep up posting such content.

  218. I do consider all the ideas you’ve introduced in your post. They’re very convincing and can definitely work. Nonetheless, the posts are very short for newbies. Could you please lengthen them a little from next time? Thank you for the post.

  219. Have you ever considered creating an e-book or guest authoring on other sites? I have a blog based upon on the same information you discuss and would love to have you share some stories/information. I know my readers would value your work. If you’re even remotely interested, feel free to send me an e-mail.

Leave a Reply

Your email address will not be published. Required fields are marked *