Benjamin Reynolds
Sole owner of Control-Finance Ltd, a UK-based Bitcoin 'trading' operation the CFTC called a fraud. He solicited ~22,858 BTC (~$147M) in 2017 promising guaranteed profits, made no trades, and misappropriated the funds. A 2021 default judgment ordered $143M restitution + $429M in penalties.
Also known as: Benjamin Reynolds
Note: The CFTC obtained a civil default judgment; Reynolds never appeared and his whereabouts have been reported as unknown.
Bio
Benjamin Reynolds, purportedly of Manchester, England, was the sole director and owner of Control-Finance Limited. From May to October 2017 he solicited Bitcoin from the public, falsely promising guaranteed daily profits from a team of "expert" traders and an affiliate-referral program, and provided sham "trade reports" — while making no trades and routing deposits through single-use wallets into pooled addresses he controlled (Ponzi-style). [1][2]
Status
The CFTC charged Reynolds and Control-Finance in 2019. On March 2, 2021 the court entered a default judgment finding he misappropriated ~22,190 BTC (~$143M) from 1,000+ customers, ordering ~$143M in restitution and a $429M civil penalty. He did not appear and his location is unknown. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
See also
- Profit ConnectProjectsA Las Vegas company that the SEC said was a $12M+ Ponzi scheme: it told 277+ investors their money would be invested in securities and crypto via an 'artificial intelligence supercomputer' guaranteeing 20–30% annual returns. The SEC halted it in 2021; over 90% of funds came from investors.
- Donald BasileIndividualsFounder behind Bitcoin Latinum (LTNM). The SEC charged him in 2026 with defrauding investors of ~$16M by falsely claiming the token was insured and asset-backed, and misappropriating funds for personal use (including a $160,000 horse).
- Kristoffer KrohnIndividuals
This page was last updated on Jun 8, 2026. View revision history.