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Former CEO pleads guilty to crypto futures cherry-picking scheme

Department of Justice building
Photo: Kevin Dietsch/Getty Images

Julie DiMauro

2 min read
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DOJ brings the first criminal charge against a commodities trading adviser and commodities pool operator for operating a “cherry-picking” scheme involving crypto futures.

A former CEO of investment firm Systematic Alpha Management LLC (SAM) pleaded guilty on Wednesday to a “cherry-picking” scheme, in which he fraudulently misappropriated profitable trades to himself and saddled his investors with losses, the US Department of Justice announced in a press release.

The DOJ noted that this is

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