A Nelson Mullins team representing a group of plaintiffs, including CFT Solutions, LLC (CFT) and its owner Renan de Rocha Gomes Bastos, secured an $85 million judgement in a case against two defendants accused of running a global fraud scheme operated by a Hong Kong-based online forex investment brokerage, FxWinning Ltd. On Mar. 7, Miami-Dade County civil court Judge Lisa Walsh entered a final judgment in the CFT plaintiffs’ favor against two of of FxWinning’s principles, Rafael Brito Cutie and David Merino Quintana, awarding more than $85 million in damages. FxWinning and the other named defendants are accused of defrauding investors in a sprawling crypto-forex fraud scheme between 2020 and 2023.
The judgement comes on the heels of a jury trial in December 2024 in which FxWinning was found liable for defrauding investors. FxWinning shut down in June 2023 and allegedly instructed users to withdraw their funds, but many of the investors found their withdrawals were never processed, resulting in millions of dollars of losses.
Partners Justin Kaplan and Ryan Todd represent the CFT plaintiffs.
Original source can be found here.