The U.S. Commodity Futures Trading Commission (CFTC) has been granted a preliminary injunction to freeze participation in the foreign exchange fraud scheme ROFX..Net Timothy Stubbs assets。

Related orders seen by FX News Group by Judge Darrin P, Southern District Court of Florida.Signed by Gayles。

The U.S. Commodity Futures Trading Commission (CFTC) requested a preliminary injunction against the defendant Timothy Stubbs for violating the Commodity Exchange Act and related CFTC regulations.。The court found that the Commission had sufficiently demonstrated that Stubbs, through a joint venture with its co-defendants, had violated 7 U.S.C. § 6b (a) (2) (A), (C), 6d (a) (1), 9 (1), and 17 C..F.R.Section。R.§ § 5.2 (b) (1), (3) and 180.1 (a), because they accepted and misappropriated client funds that the client intended to use for retail foreign exchange transactions and failed to disclose material facts to the client。Therefore, until the litigation is resolved, it is necessary to issue a preliminary injunction to maintain the status quo。

On 31 August 2022, the Committee filed three amended and amended indictments against Notus LLC d / b / a ROFX, Easy Com LLC d / b / a ROFX, Global E-Advantages LLC a / k / a Kickmagic LLC d / b / a ROFX, Grovee LLC d / b / a ROFX and Shopostar LLC d / b / a ROFX, as well as against Jase Davis, Borys Konovalenko,。

Corporate defendant Grovee accepted more than $1.2 million in ROFX funding over the relevant time period。Stubbs in control of Grovee, records show。Stubbs is a Certified Public Accountant and is designated as the sole member of Grovee in Grovee's operating agreement.。

Stubbs "involvement in the common enterprise does not appear to be confined to Grovee。Stubbs' Mississippi residence was used as a mailing address for corporate defendants Notus and Shopostar and for assisting defendants Davis and Konovalenko。In addition, there is evidence in the records that Stubbs assisted Davis in opening two Easy Com bank accounts that were used to embezzle customer funds, including preparing for Davis' bank interview in Atlanta with a pickup.。

Under the preliminary injunction, Stubbs was immediately restrained and prohibited from directly or indirectly withdrawing, transferring, removing, dissipating, or otherwise disposing of any assets, regardless of their location, including assets held by the defendant outside the United States, unless the court ordered otherwise.。

Defendant shall not in any way, directly or indirectly, destroy, tamper with, erase, alter, conceal or dispose of any document relating to the business conduct or business or personal finances of any Defendant。

In addition, Stubbs is preliminarily prohibited from violating the acts and statutes alleged in the amended indictment during this proceeding.。