Seeking Victim Information in Crypto Trading Club (CTC) Investigation

The FBI’s Salt Lake City Division is seeking to identify potential victims of the Crypto Trading Club LLC and Crypto Traders Management LLC investments.

The government is alleging that Shawn Cutting began promoting cryptocurrency investing in or around August 2017 through the Crypto Trading Club LLC (CTC). Cutting then formed Crypto Traders Management LLC (CTM) in or around January 2018. From that date through approximately May 2020, the government alleges Cutting promoted CTM as an investment fund comprised of cryptocurrency, alternative coins, and other alternative investments. Investors were typically told their money would be pooled together in a hedge fund and converted to digital assets which would be purchased and sold, and investors would receive a profit.

Investors were able to fund their investments by various means, including cash, check, Paypal, crypto currencies or direct deposit into a bank account or wallet associated with CTM. Some investors were provided a service agreement which outlined the investment agreement, including how CTM would manage client funds, monthly fees paid to CTM, withdrawal penalties, investment risks, tax information, terms and conditions, deposits, withdrawals among other information. Typically, investors were provided with periodic updates that described Cutting’s purportedly successful trading and investment returns, at times touting gains of over 50% in a single month.

The FBI is investigating allegations that Cutting made various false representations to investors about CTC and CTM, as well as his misuse of investor funds. These allegations include providing investors with false information about their earnings; ignoring and denying investors’ requests to withdraw their funds; and providing false information about the reasons why investors could not withdraw their funds. Additionally, instead of investing the monies which were collected from investors, the FBI is investigating allegations that Cutting used investor money to pay for various personal expenses to include payments to family, his own investment company, and trust accounts which he owned or controlled.

If you believe you were a victim in the investigation described above, or have information relevant to this investigation, please fill out this short form. Your responses are voluntary but would be useful in the federal investigation and to identify you as a potential victim.

If you know of someone else who may also be a victim of these investment schemes, please encourage them to complete the form themselves. Based on your responses you may be contacted by an FBI Special Agent or other law enforcement officials and asked to provide additional information.

The FBI is legally mandated to identify victims of federal crimes it investigates. Victims may be eligible for certain services, restitution, and rights under federal and/or state law. Your responses are voluntary but may be useful in the federal investigation and to identify you as a potential victim. Based on the responses provided, you may be contacted by the FBI and asked to provide additional information. All identities of victims will be kept confidential.