The Commodity Futures Trading Commission (CFTC) has requested the Court to impose a heavy fine on Damien Moran, head of Crown Bullion, Inc. and Bright Future Financial LLC.
The CFTC filed the relevant documents with the Texas Northern District Court on March 19, 2025.
The law authorizes the Commission to obtain a civil monetary penalty of up to three times the monetary gain to the defendants. The monetary gain to the defendants in this case is $6,316,891.83 which represents the amount of customers net deposits, less the amount of funds received by customers and further reduced by business expenses in the amount of $926,027.
Triple the amount of the monetary gains is therefore $18,950,675.49. Thus, the CFTC requested that the Court impose a civil penalty of $18,950,675.49 due to the grave nature of their conduct which violated core anti-fraud provisions of the Act.
Let’s recall that the CFTC filed its action against…
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