A Tennessee couple has been ordered to pay more than $6.8 million in restitution and penalties after defrauding 145 investors through a fake crypto trading scheme branded “Blessings of God Thru Crypto.”
According to the Commodity Futures Trading Commission (CFTC), Michael and Amanda Griffis—both real estate agents in Clarksville—used their professional network to solicit $6.5 million from investors between 2021 and 2023. They claimed the funds would be used for crypto futures trading on what appeared to be the Apex trading platform, guided by a so-called advisor known only as “Coach Wendy.”
In reality, the funds were funnelled into a sham platform linked to an overseas exchange. Investigators say over $4 million was moved offshore, while the couple used the rest to pay personal debts and expenses. Roughly $855,000 was returned to investors in Ponzi-style payouts designed to prolong the scheme.
The U.S. District Court for the Middle District of Tennessee issued a consent order requiring the couple to repay more than $5.5 million to victims and an additional $1.35 million as a civil penalty. They were also handed lifetime bans from commodity trading, CFTC registration, and further violations of federal commodity laws.
The case echoes a growing pattern of community-driven fraud in the crypto space, where trust networks are exploited to lure victims. Regulators recently imposed multimillion-dollar penalties on a Denver pastor and his wife for selling worthless church tokens, while a Long Island man was fined $228 million for a massive Ponzi scheme.
Fraud experts warn that telltale signs—such as platforms with no registered company details—should prompt investor caution. Once lost, crypto funds can move across borders quickly, making recovery rare.
