CFTC Charges 2 Men With Running $44 Million Crypto Ponzi Scheme

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Commodity Futures Trading Commission (CFTC) officials allege that Sam Ikkurty (also known as Sreenivas I Rao), of Portland, Oregon, and Ravishankar Avadhanam of Aurora, Illinois, along with several companies controlled by the defendants, worked together to convince its victims to invest in a "so-called digital asset income fund".