July 18, 2017
The Commodity Futures Trading Commission (CFTC) today announced that a federal district court has unsealed a civil CFTC Complaint with the Middle District of Florida on July 10, 2017, charging
Jason B. Scharf of Valley Village, California, a worldwide web of companies he controlled, including
CIT Investments LLC, a Nevada limited liability corporation;
Brevspand EOOD, a Bulgarian business entity;
CIT Investments Ltd., a Marshall Islands business entity;
CIT Investments Ltd., an Anguillan business entity; and
A & J Media Partners, Inc., a California corporation, together with affiliate marketers
Michael Shah and his company
Zilmil, Inc., both of Jacksonville, Florida, with unlawfully soliciting and accepting more than $16 million in connection with illegal binary options contracts. Scharf also does business as Citrades.com and AutoTrading Binary.com, according to the Complaint. In addition, the Complaint charges Scharf, Shah, and Zilmil with acting as Futures Commission Merchants (FCM) and Commodity Trading Advisors (CTA) without being registered with the CFTC, as required.
CFTC