CLARKSVILLE, TN – Michael Griffis and Amanda Griffis, Tennessee real estate agents, have been ordered to pay over $6.8 million in restitution and penalties for perpetrating a commodity pool fraud, the Commodity Futures Trading Commission (CFTC) announced Tuesday. The U.S. District Court for the Middle District of Tennessee entered a consent order against the couple on September 25, 2025.
The Griffises are required to pay $5,528,121 in restitution to the 145 victims they defrauded, along with a $1,355,232 civil monetary penalty. The order also permanently bans them from trading commodities and registering with the CFTC, and prohibits any further violations of the Commodity Exchange Act and related regulations.
The CFTC initially filed an enforcement action against the couple in July 2023. According to the court’s findings, the Griffises solicited funds from friends, family, and real estate clients for a fraudulent investment scheme called “Blessings Thru Crypto.” They falsely claimed the funds would be used to trade commodity futures on the Apex Trading Platform, guided by an individual known as “Coach Wendy.”
Investigators determined that the Apex Trading Platform was a fraudulent imitation of an overseas exchange and the identity of “Coach Wendy” remains unknown. Over $4 million of the investors’ funds were transferred to the illegitimate exchange and subsequently dispersed to other accounts and offshore trading platforms. The remaining funds were allegedly misappropriated by the Griffises for personal expenses, including debt repayment and consumer purchases.
“This case is a stark warning to be cautious about whom you trust with your money,” said Charles Marvine, Acting Chief of the Division of Enforcement’s Retail Fraud and General Enforcement Task Force. “If an investment opportunity seems too good to be true, it almost certainly is, for you and anyone you bring along.”
The CFTC cautions that victims may not recover the full amount of their losses, as the Griffises may lack sufficient assets. The agency encourages the public to verify the registration of commodity firms and individuals using the NFA BASIC database and to report suspicious activity via the CFTC’s toll-free hotline or online complaint form.
Source: CFTC.gov
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