The Commodity Futures Trading Commission announced on September 30, 2026 that the U.S. District Court for the Middle District of Florida entered a default judgment against Brian Early and Alisha Ann Kingrey over their participation in a digital assets and precious metals fraud involving the unincorporated Fundsz entity and its website.
What the court ordered
According to the CFTC, the court ordered Early and Kingrey to pay $15,732,455 in restitution and a $15,752,455 civil monetary penalty.
The agency said the court also permanently enjoined the pair from further violations of the Commodity Exchange Act and CFTC regulations, as charged, and imposed permanent registration and trading bans.
The findings against the Fundsz moderators
The CFTC said the court found that, as Fundsz board members and social media moderators, Early and Kingrey made material misrepresentations and omissions concerning Fundsz's expected profits, risk of loss, and historical trading performance.
They also falsely represented that participants' money would be traded according to a proprietary algorithm and could be withdrawn in 180 days with interest, the regulator said.
Per the CFTC, the court further found that when the two learned of the agency's investigation, they began walking back their profitability claims and worked to eliminate Fundsz's social media presence.
Consent orders against two Florida defendants
The default judgment was preceded by consent orders against Rachel Larralde, as personal representative of the estate of Rene Larralde, and Juan Pablo Valcarce, the CFTC said.
The agency said the court found that Rene Larralde, described as Fundsz's founder and controlling person, and Valcarce had deceived participants into investing in Fundsz, and that Larralde had misappropriated funds for personal use.
The court ordered Larralde's personal estate representative to relinquish ownership rights in a personal residence purchased with investor funds, as well as more than $2.7 million in other assets, to a court-appointed receiver. Valcarce was permanently enjoined from further violations of the Commodity Exchange Act and CFTC regulations, as charged, and given permanent registration and trading bans.
Case status
The CFTC said the default judgment and consent orders resolve all remaining claims in its action, which it previously announced in CFTC Press Release No. 8766-23.
Key facts and where they come from
- A Florida federal court entered a default judgment against Brian Early and Alisha Ann Kingrey over the Fundsz scheme.
the U.S. District Court for the Middle District of Florida entered a default judgment against defendants Brian Early and Alisha Ann Kingrey
- The pair must pay $15,732,455 in restitution and a $15,752,455 civil monetary penalty.
The court ordered Early and Kingrey to pay $15,732,455 in restitution and a $15,752,455 civil monetary penalty.
- The court imposed permanent registration and trading bans on Early and Kingrey.
imposed permanent registration and trading bans
- Participants were falsely told funds would be traded by a proprietary algorithm and withdrawable in 180 days with interest.
participants’ money would be traded according to a proprietary algorithm and could be withdrawn in 180 days with interest
- Larralde's estate representative must turn over a residence bought with investor funds and more than $2.7 million in other assets.
to relinquish ownership rights in a personal residence that Larralde purchased with investor funds, as well as more than $2.7 million in other assets, to the court-appointed receiver
- The orders resolve all remaining claims in the CFTC's action.
The default judgment and consent orders resolve all remaining claims in the CFTC’s action.