The Commodity Futures Trading Commission (CFTC) is pushing for heavy penalties to be imposed on James Robert Velissaris, founder of Infinity Q Capital Management, LLC.
The CFTC filed a motion for summary judgment against Velissaris at the New York Southern District Court on March 27, 2025.
In the document, the CFTC argues that Velissaris engaged in a fraudulent scheme that enriched himself in an amount of $22 million, yet ultimately caused the Funds to incur losses of $125,969,962.78. Given the facts and evidence presented to the Court, a civil monetary penalty of $66,000,000.00 is appropriate in this case, the CFTC says.
A civil monetary penalty of $66,000,000.00 is equal to three times Velissaris’s monetary gain of $22,000,000.00.
The proposed order envisages that Velissaris should pay restitution in the amount of $125,969,962.78 (“Restitution Obligation”), plus post-judgment interest thereon. In the parallel…
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