Kenneth Dante Murena was recently appointed Receiver in the Commodity Futures Trading Commission (the “CFTC”) enforcement action against Jason B. Scharf (d/b/a and, CIT Investments, LLC, Brevspand EOOC, CIT Investments, Ltd., A&J Media Partners, Inc., Michael Shah, and Zilmil, Inc., recently filed in the U.S. District Court for the Middle District of Florida. Murena’s appointment almost immediately followed the filing of the CFTC’s complaint, alleging that Defendants had engaged in illegal, off-exchange retail transaction swaps and off-exchange commodity option transactions, and fraudulently solicited thousands of customers to enter into off-exchange investments in “binary options” resulting in tens of millions of dollars in losses, in violation of several federal statutes.

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