CFTC Secures $6.8 Million Judgment Against “Blessings Thru Crypto” Fraud
The Commodity Futures Trading Commission (CFTC) has obtained a consent order from the U.S. District Court for the Middle District of Tennessee against Michael and Amanda Griffis, a Tennessee couple who defrauded at least 145 people through a fraudulent commodity pool. The court’s decision requires them to pay $5,528,121 in restitution to victims and a $1,355,232 civil monetary penalty, totaling more than $6.8 million in relief.
The Griffises, both local realtors in Clarksville, Tennessee, operated the scheme under the name Blessings Thru Crypto. They used personal and professional connections in the real estate community to solicit more than $6.5 million, claiming the funds would be traded in commodity futures on the Apex Trading Platform. Investors were told trades would be executed with guidance from a mysterious figure known only as “Coach Wendy.”
According to the court, these claims were false. The Apex Trading Platform was a sham—an illegitimate copy of an overseas exchange. Over $4 million of investor funds were wired to this fraudulent platform and quickly dispersed through a web of offshore accounts. The remaining money was misappropriated by the Griffises for personal debts and consumer purchases, underscoring the fraudulent nature of the pool.
Permanently Banned From Trading
The consent order not only imposes monetary penalties but also permanently bans Michael and Amanda Griffis from registering with the CFTC and from participating in trading activity governed by the Commodity Exchange Act. This ensures they cannot re-enter the commodities markets in any capacity.
Charles Marvine, Acting Chief of the Division of Enforcement’s Retail Fraud and General Enforcement Task Force, cautioned investors:
“This case is a stark warning to be cautious about whom you trust with your money. If an investment opportunity seems too good to be true, it almost certainly is, for you and anyone you bring along.”
The ruling resolves a CFTC enforcement action filed in July 2023, which outlined the couple’s deception and the financial harm inflicted on their victims. The court recognized the wide-scale losses across a community of individuals who were misled into trusting the scheme due to the Griffises’ personal relationships and professional standing.
Warnings and Lessons for Investors
The CFTC emphasized that this case highlights the risks of unregistered commodity pools and the importance of verifying registrations before committing funds. It has issued multiple advisories, including a Commodity Pool Fraud Advisory, to help consumers identify and avoid scams. A consistent theme is that fraudsters often exploit trust and use personal networks to gain access to investor capital, only to divert funds to personal use or fraudulent platforms.
Investors are strongly encouraged to check the registration status of any entity with the CFTC through NFA BASIC, a free public database. The agency also urges the public to report suspicious activity via its hotline or whistleblower program, which can reward whistleblowers with between 10% and 30% of monetary sanctions collected.
With restitution ordered, victims of Blessings Thru Crypto may finally see some relief, but the case stands as a reminder of the persistent risks facing retail investors in commodities and digital asset markets. Vigilance, verification, and skepticism remain key tools for protecting one’s financial future.
Investor Takeaway