Troy Mason settles Ztegrity forex fraud with CFTC for $943,570
Troy Mason has settled Ztegrity forex fraud allegations with the CFTC for $943,570.
As per a signed August 15th settlement, Mason admits to
to all of the findings made in this Consent Order and all of the allegations in the (CFTC’s) Complaint.
Mason’s settlement was filed with the court on October 7th.
The CTC filed suit against Ztegrity in June 2021, accusing Mason of forex fraud, failure to register as a commodity pool operator and fraud by a commodity pool operator.
On Ztegrity’s website, Mason claimed he’d taken in over $460,000 from 411 participants.
As per Mason’s signed settlement, he will pay $643,570 in restitution and a $300,000 civil penalty. A permanent injunction has also been entered against Mason.
Mason marketed Ztegrity as a “forex savings club”. As put forth by the CFTC;
To further lead existing and prospective participants into believing that funds contributed to the Forex Savings Club were as safe as funds contributed to a savings account at a bank, the Defendants required participants to obtain a “debit card” called “zBlackcard,” which, in turn, required cardholders to contribute certain amounts to their respective accounts monthly.
BehindMLM reviewed ZBlackCard in 2018. Mason had yet to implement the forex grift at time of publication.
He has however continued to defraud consumers through various pyramid schemes.
As of October 7th, Mason is still promoting 25X Club:
Fiona Robinson Moody, who works with Mason to defraud consumers, is blocking victims from 25XClub’s official FaceBook group.
SimilarWeb tracks what negligible traffic there is to 25X Club’s website has declined over the past few months.
Pending further regulatory action, 25X Club victim numbers and how much they’ve lost remains unknown.