According to the announcement issued by the US Department of Justice, Peter Kambolin, CEO of investment company Systematic Alpha Management LLC (SAM), has been sentenced to two years in prison and ordered to forfeit $1.6 million for implementing a "preferential plan" involving algorithmic trading strategies for cryptocurrency futures contracts in marketing. It is reported that Systematic Alpha Management LLC was established in 2007, and as of 2011, its assets under management exceeded $720 million. From January 2019 to November 2021, Kambolin, who was then a commodity trading advisor and commodity pool operator, participated in a "preferential plan" and fraudulently allocated profits and losses from futures trading for his own benefit.
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U.S. Department of Justice: The CEO of investment company “SAM” was sentenced to two years in prison for participating in a “merit-picking scheme” for cryptocurrency futures contracts.
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