The U.S. Commodity Futures Trading Commission secured a default judgment exceeding $30 million against Brian Early and Alisha Ann Kingrey for their involvement in the Fundsz digital assets and precious metals fraud scheme, the U.S. District Court for the Middle District of Florida ruled.
The CFTC filed suit in 2023, alleging Early and Kingrey participated in a crypto scheme tied to an unincorporated Fundsz entity and its founder, Rene Larralde. The defendants attempted to disengage from the fraud after the initial filing, according to the agency.
Court documents identified Early and Kingrey as Fundsz board members and moderators of the scheme's Telegram group. The Fundsz operation targeted investors with promises of returns from digital assets and precious metals through a fraudulent trading website.
A default judgment is entered when a defendant fails to respond to a lawsuit, allowing the court to rule in favor of the plaintiff without trial. The $30 million penalty aims to facilitate recovery for victims who invested in the scheme.
