Background on the Case
The U.S. Commodity Futures Trading Commission (CFTC) has officially terminated its civil fraud proceedings against David Cartu and Joshua Cartu. Despite this development, their brother, Jonathan Cartu, is still facing allegations that he acted as the primary owner and decision-maker of the alleged $165 million binary options enterprise.
The CFTC initially alleged that the Cartu Brothers operated a deceptive binary options scheme that targeted investors in the United States and Canada.
Court Filing and Legal Context
According to documents filed in federal court in Texas on March 3, the dismissal of charges against David and Joshua does not require further judicial action. The Commission explained that because the brothers did not file any responses or motions, the notice effectively ended the case on its own.
The CFTC did not provide an explanation for withdrawing the claims. In earlier statements, the brothers criticized the regulator for failing to present specific details of wrongdoing, asserting that no concrete customer examples or fraudulent transactions had ever been identified.
Case Status Overview
|
Brother |
Status of Case |
CFTC Position |
|
David Cartu |
Charges dismissed |
No response filed; case closed |
|
Joshua Cartu |
Charges dismissed |
No response filed; case closed |
|
Jonathan Cartu |
Case ongoing |
Considered ultimate owner and control person |
Reporting Information
Those with knowledge about the activities of the Cartu Brothers are invited to submit information on our website.
Further investigative reports can be found through the Scam-Or Project, which continues to monitor the case and related developments.