A number of The Merchants Area scammers have consented to preliminary injunctions.
Between October twenty second and twenty fifth, the CFTC filed preliminary injunction consent orders pertaining to:
- Merchants Area FX LTD, dba The Merchants Area;
- Ares International LTD, dba Trublue FX, Algo Capital LLC, Algo FX Capital Advisor LLC (nka Quant5 Advisor LLC);
- Centurion Capital Group Inc.;
- Alejandro Santiesteban, aka Alex Santi;
- Archie Rice;
- Gabriel Beltran;
- Michael Shannon Sims, aka Mike Sims; and
- John Fortini
As of October twenty eighth, the courtroom has issued preliminary injunction consent orders for Merchants Area FX LTD, Ares International LTD, Centurion Capital Group, Alejandro Santiesteban, Archie Rice and Gabriel Beltran.
The injunctions had been granted primarily based on:
- the CFTC making a prima facie displaying that the consenting defendants violated the Commodities Act;
- the CFTC being more likely to succeed on the deserves of its enforcement motion; and
- “cheap probability” that the The Merchants Area defendants “will switch of dissipate belongings or destroy data”
The granted preliminary injunctions freeze the defendants’ belongings, permitting the courtroom appointed Receiver to conduct “expedited discovery” and examine frozen belongings.
A present trigger listening to, pertaining to preliminary injunctions in opposition to the remaining The Merchants Area defendants, has been pushed again to November twelfth, 2024.