CFTC’s Fundz Complaint dismissed, Amended Complaint coming
The CFTC’s initial Complaint against Fundsz has been dismissed.
In an order handed down on August 31st, Judge Berger cited the CFTC’s Complaint as an “impermissible shotgun pleading”.
As a general matter, “[t]he failure to identify claims with sufficient clarity to enable the defendant to frame a responsive pleading constitutes a ‘shotgun pleading.’”
As it was a technical dismissal, as opposed to one based on the evidentiary merits of the CFTC’s Complaint, the regulator was given until September 8th to file an Amended Complaint.
On September 7th the CFTC requested an extension of time to file.
The stated reason for the requested delay is the passing of Rene Larralde (51, right).
on September 6, 2023, the CFTC was informed that Defendant Rene Larralde has passed away.
Due to this sad development, the CFTC requests additional time to determine how to proceed.
The court granted the motion on September 11th, giving the CFTC till October 6th.
I’m not 100% but seeing as the case itself hasn’t been dismissed, I believe the previously granted preliminary injunction remains in place.
The court has advised the CFTC that if they don’t file an Amended Complaint, the case itself will be dismissed.
Update 2nd December 2023 – The CFTC filed an Amended Complaint on September 29th.
In the interests of completeness I did try to suss out a cause of death. Didn’t turn up anything concrete.
I just wanna know what happens.
Well, unless you’ve got a crystal ball or a time machine…
Good job: i hope everthing will be positive for all members of fundsz.
I’m really glad with this update. I hope we keep hearing such good news, and i hope it results in us getting our money back.
Your money is gone, irrespective of what happens in the CFTC’s regulatory case.
At best partial recovery of some funds might happen in a few years. Alternatively if the CFTC drops the ball, sorry for your (entire) loss.
My comment will be this..it’s a crying shame that in this world their are such people that will try to destroy what another is doing to help others to get ahead in life shame on them and I hope they reap what they sow.
Stealing money from people through a Ponzi scheme isn’t helping them. Stop making excuses for scammers.
If the CFTC would have left Fundsz alone our money would be fine. There was not any issues.
We were not experiencing a ponzu scheme. Bug now that CFTC decided they needed to protect us from absolutely nothing, now we can’t get our money! Thanks a lot!
Math is math. All Ponzi schemes collapse because math.
Getting butthurt at the CFTC because you think you would have otherwise beaten math is asinine.
You lost money because you invested into a Ponzi scheme. The CFTC didn’t make you do that.
Yes, they would be fine in Fundsz admins’ pockets, never to be seen by you again.
Indeed, you weren’t experiencing a “ponzu” scheme, but rather a Ponzi scheme.
You wouldn’t get it anyway, the admins had no intention to pay you out, leaving money to themselves and early investors.
Please do your best to help Haitian people who are in need to get their money it is very hard for us down here.
I hope the CFTC do the right thing and return people’s money that they worked hard for trying to get ahead providing for our families especially in this day and age.
I hope they have integrity and honestly give us our money back.
Our money is gone, never to be recovered again, gone forever.
I pray God will speak to the CFTC’S,to give back our money I invested into fundsz to pay off debt and come up out of poverty…I pray God they do the right thing …
God has nothing to do with this and won’t be intervening after giving multiple warnings about greed and theft and stupidity, via normal people, if you choose to believe that
What greed and theft, investing your own money has become greed and theft hmmm…
Yes. Investing in Ponzi schemes is greed and theft.
I’m sure you thought you had a point but it appears religion has made you daft. A little less god and a little more brains, kthx.
It’s greed, because the only reason to invest into a Ponzi scheme is to get more money as quick as possible. That’s the definition of greed.
It’s theft, because at the same moment you’ve invested, your money are stolen by those above you in the company’s structure. And if you withdraw something, then you steal those money from people below you. That’s the definition of theft.
So did they file by October 6th or not? If not then the case is dismissed.. how is this not known?
Sorry, noted it on the docket but forgot to update the article. An Amended Complaint was filed.
So where is our money that we have in fundsz?. The criminals have ran away with all of it, I guess.
Yep. Welcome to Ponzi schemes.