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.
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.