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Every state-changing event for Rene Larralde: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-10-08 01:01:35Z
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   {"actor":"system:backfill","investigation_id":"12a1a4c2-579e-43a9-af06-49d09d014708","kind":"publish","page_slug":"rene-larralde","published_at":"2026-10-08T01:01:35.743Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Rene Larralde","sections":[{"content":"Rene Larralde, a resident of Melbourne, Florida, served as a co-founder, co-owner, and Advisory Board member of Fundsz, an unincorporated trading platform that operated from approximately October 2020. The CFTC's August 2023 complaint identified Larralde alongside co-defendants Juan Pablo Valcarce (West Melbourne, Florida), Brian Early (New Orleans, Louisiana), and Alisha Ann Kingrey (Franklin, Arkansas) as principals of the scheme. According to the CFTC complaint, Fundsz solicited participants with claims that it historically produced returns exceeding 3% per week through a 'proprietary algorithm' trading cryptocurrencies and precious metals, and that a one-time $2,500 deposit could grow to $1 million within 48 months. The CFTC alleged that Fundsz did not trade customer funds at all and instead reported fictional weekly returns while misappropriating investor deposits for personal use. Court filings cited by BehindMLM noted that Larralde transferred $216,398 from Fundsz accounts into personal trading accounts and subsequently withdrew $210,388 in personal funds between 2021 and 2022.","heading":"Background and Role in Fundsz","severity":"critical","sources":[{"credibility":1,"name":"CFTC Press Release 8766-23: Charges against Fundsz and principals","type":"regulatory","url":"https://www.cftc.gov/PressRoom/PressReleases/8766-23"},{"credibility":2,"name":"BehindMLM: CFTC secures Fundsz Ponzi asset-freeze, owners charged","type":"news_article","url":"https://behindmlm.com/companies/cftc-secures-fundsz-ponzi-asset-freeze-owners-charged/"},{"credibility":2,"name":"The Block: CFTC charges Fundsz, four individuals in crypto and precious metals fraud","type":"news_article","url":"https://www.theblock.co/news/regulation/2023-08-12-cftc-fundsz-crypto-fraud-244570"}]},{"content":"The CFTC filed its complaint under seal in the U.S. District Court for the Middle District of Florida on July 31, 2023. On August 2, 2023, U.S. District Judge Wendy Berger signed an ex parte statutory restraining order (SRO) freezing all assets of Fundsz and its four named defendants, preserving records, and appointing a temporary receiver. The CFTC's public announcement followed on August 11, 2023. The complaint alleged that approximately 14,000 participants had been solicited and that the scheme involved fraudulent misrepresentations about trading performance, profitability, historical returns, and charitable contributions. A preliminary injunction hearing was scheduled for August 23, 2023. The CFTC sought restitution, disgorgement, civil monetary penalties, permanent trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act (CEA).","heading":"CFTC Enforcement Action and Asset Freeze","severity":"critical","sources":[{"credibility":1,"name":"CFTC Press Release 8766-23","type":"regulatory","url":"https://www.cftc.gov/PressRoom/PressReleases/8766-23"},{"credibility":2,"name":"BehindMLM: CFTC secures Fundsz Ponzi asset-freeze, owners charged","type":"news_article","url":"https://behindmlm.com/companies/cftc-secures-fundsz-ponzi-asset-freeze-owners-charged/"}]},{"content":"Rene Larralde died on September 6, 2023, approximately five weeks after the CFTC filed its complaint. The CFTC was informed of his death shortly thereafter. His wife, Rachel Larralde, was subsequently substituted as a defendant in the litigation as the representative of his estate. The case against Larralde's estate proceeded under the substituted defendant designation, with the estate required to respond to and ultimately resolve the CFTC's allegations.","heading":"Death and Estate Substitution","severity":"high","sources":[{"credibility":2,"name":"BehindMLM: Larralde estate and Valcarce Fundsz settlement details","type":"news_article","url":"https://behindmlm.com/companies/larralde-estate-valcarce-fundsz-settlement-details/"},{"credibility":1,"name":"CourtListener: CFTC v. Larralde, 6:23-cv-01445 (M.D. Fla.)","type":"court_filing","url":"https://www.courtlistener.com/docket/67679930/commodity-futures-trading-commission-v-larralde/"}]},{"content":"The estate of Rene Larralde reached a consent-order settlement with the CFTC, which the U.S. District Court approved on July 30, 2026. Under the terms of the settlement, the estate acknowledged violations of the Commodity Exchange Act and agreed to surrender the following assets to the court-appointed receiver: (1) a riverfront residence in Rockledge, Florida, which had been purchased with investor funds; (2) $30,836 in cash discovered in a safe at the residence; (3) approximately $4.1 million from a Bank of America joint account; and (4) $2.67 million in cryptocurrency. A Ford Expedition and $3,584 in previously seized funds were returned to Rachel Larralde. The receiver expected to sell the property for approximately $1.7 million after the home was surrendered in severely deteriorated condition, requiring a professional cleaning crew to prepare it for sale. As of April 2025, the receivership held approximately $4.4 million in cash for eventual distribution to the approximately 9,100 investors who suffered net losses, with total victim losses calculated at approximately $15.73 million.","heading":"Estate Settlement and Asset Recovery","severity":"high","sources":[{"credibility":2,"name":"BehindMLM: Larralde estate and Valcarce Fundsz settlement details","type":"news_article","url":"https://behindmlm.com/companies/larralde-estate-valcarce-fundsz-settlement-details/"},{"credibility":2,"name":"BehindMLM: Fundsz home surrendered with missing floorboards, feces and maggots","type":"news_article","url":"https://behindmlm.com/companies/fundsz-home-surrendered-with-missing-floorboards-feces-maggots/"},{"credibility":2,"name":"CoinCentral: CFTC Closes Fundsz Case With Millions Owed and Permanent Trading Bans","type":"news_article","url":"https://coincentral.com/cftc-closes-fundsz-case-with-millions-owed-and-permanent-trading-bans"}]},{"content":"The CFTC's enforcement action resulted in four separate resolutions across the named defendants. Juan Pablo Valcarce settled in parallel with the Larralde estate, receiving a permanent injunction prohibiting participation in the sale of commodities and commodity interests, though his settlement carried no monetary component; Valcarce had earned $69,135 as a Fundsz employee and also acknowledged CEA violations. Brian Early and Alisha Ann Kingrey, who had served as Fundsz board members and social media moderators, failed to respond to court-ordered financial disclosures; the court struck their answers and recorded entries of default against them in April 2025. On September 30, 2026, the U.S. District Court entered a default judgment against Early and Kingrey ordering them to pay $15.73 million in restitution and $15.75 million in civil penalties (totaling $31.48 million), and imposing permanent trading and registration bans. Fundsz itself as an unincorporated entity was dismissed from the action on January 6, 2026, after the CFTC argued that individual claims were substantially resolved and the entity had made no court appearances. The September 30, 2026 judgment and the earlier consent orders together settled all remaining claims in the CFTC's Fundsz enforcement action.","heading":"Co-Defendant Outcomes and Case Resolution","severity":"high","sources":[{"credibility":2,"name":"BehindMLM: Early and Kingrey cop $31.4 million Fundsz judgment","type":"news_article","url":"https://behindmlm.com/companies/early-kingrey-cop-31-4-million-fundsz-judgment/"},{"credibility":2,"name":"BehindMLM: Fundsz dismissed from CFTC's Fundsz fraud lawsuit","type":"news_article","url":"https://behindmlm.com/companies/fundsz-dismissed-from-cftcs-fundsz-fraud-lawsuit/"},{"credibility":2,"name":"BehindMLM: Larralde estate and Valcarce Fundsz settlement details","type":"news_article","url":"https://behindmlm.com/companies/larralde-estate-valcarce-fundsz-settlement-details/"},{"credibility":2,"name":"CoinCentral: CFTC Closes Fundsz Case With Millions Owed and Permanent Trading Bans","type":"news_article","url":"https://coincentral.com/cftc-closes-fundsz-case-with-millions-owed-and-permanent-trading-bans"},{"credibility":2,"name":"FinanceFeeds: CFTC Wins More Than $30 Million Judgment in Fundsz Digital Asset Fraud Case","type":"news_article","url":"https://financefeeds.com/cftc-wins-more-than-30-million-judgment-in-fundsz-digital-asset-fraud-case/"}]},{"content":"According to the CFTC's complaint and subsequent court findings, Fundsz operated from approximately October 2020 and solicited participants primarily through social media, MLM-style referral networks, and claims of charitable giving. The platform promised weekly passive returns above 3% based on a claimed proprietary trading algorithm applied to cryptocurrencies and precious metals. The scheme additionally claimed a $2,500 initial deposit could grow to $1 million in 48 months with no additional contributions, and falsely asserted the operation had produced consistent on-time payments for seven years. The court found that customer funds were not actually traded; instead, operators reported fabricated weekly returns and diverted investor deposits for personal use. Of the more than 14,000 participants solicited, approximately 9,138 suffered net losses totaling $15,732,455.40.","heading":"Scheme Mechanics and Investor Harm","severity":"critical","sources":[{"credibility":1,"name":"CFTC Press Release 8766-23","type":"regulatory","url":"https://www.cftc.gov/PressRoom/PressReleases/8766-23"},{"credibility":2,"name":"BehindMLM: Early and Kingrey cop $31.4 million Fundsz judgment","type":"news_article","url":"https://behindmlm.com/companies/early-kingrey-cop-31-4-million-fundsz-judgment/"},{"credibility":2,"name":"The Block: CFTC charges Fundsz, four individuals in crypto and precious metals fraud","type":"news_article","url":"https://www.theblock.co/news/regulation/2023-08-12-cftc-fundsz-crypto-fraud-244570"}]}],"sources_used":[{"credibility":1,"name":"CFTC Press Release 8766-23: Charges against Fundsz principals","type":"regulatory","url":"https://www.cftc.gov/PressRoom/PressReleases/8766-23"},{"credibility":1,"name":"CourtListener: CFTC v. Larralde, 6:23-cv-01445 (M.D. Fla.)","type":"court_filing","url":"https://www.courtlistener.com/docket/67679930/commodity-futures-trading-commission-v-larralde/"},{"credibility":2,"name":"The Block: CFTC charges Fundsz, four individuals in crypto and precious metals fraud (August 2023)","type":"news_article","url":"https://www.theblock.co/news/regulation/2023-08-12-cftc-fundsz-crypto-fraud-244570"},{"credibility":2,"name":"The Block: CFTC secures over $30 million judgment against defendants in Fundsz fraud case (September 2026)","type":"news_article","url":"https://www.theblock.co/news/regulation/2026-09-30-cftc-secures-over-30-million-judgment-against-defendants-in-fundsz-fraud-case-417365"},{"credibility":1,"name":"Bloomberg: CFTC Secures $30 Million Judgment Tied to Alleged Crypto Scam","type":"news_article","url":"https://www.bloomberg.com/news/articles/2026-09-30/cftc-secures-30-million-judgment-tied-to-alleged-crypto-scam"},{"credibility":2,"name":"BehindMLM: CFTC secures Fundsz Ponzi asset-freeze, owners charged","type":"news_article","url":"https://behindmlm.com/companies/cftc-secures-fundsz-ponzi-asset-freeze-owners-charged/"},{"credibility":2,"name":"BehindMLM: Larralde estate and Valcarce Fundsz settlement details","type":"news_article","url":"https://behindmlm.com/companies/larralde-estate-valcarce-fundsz-settlement-details/"},{"credibility":2,"name":"BehindMLM: Fundsz home surrendered with missing floorboards, feces and maggots","type":"news_article","url":"https://behindmlm.com/companies/fundsz-home-surrendered-with-missing-floorboards-feces-maggots/"},{"credibility":2,"name":"BehindMLM: Fundsz dismissed from CFTC's Fundsz fraud lawsuit","type":"news_article","url":"https://behindmlm.com/companies/fundsz-dismissed-from-cftcs-fundsz-fraud-lawsuit/"},{"credibility":2,"name":"BehindMLM: Early and Kingrey cop $31.4 million Fundsz judgment","type":"news_article","url":"https://behindmlm.com/companies/early-kingrey-cop-31-4-million-fundsz-judgment/"},{"credibility":2,"name":"CoinCentral: CFTC Closes Fundsz Case With Millions Owed and Permanent Trading Bans","type":"news_article","url":"https://coincentral.com/cftc-closes-fundsz-case-with-millions-owed-and-permanent-trading-bans"},{"credibility":2,"name":"FinanceFeeds: CFTC Wins More Than $30 Million Judgment in Fundsz Digital Asset Fraud Case","type":"news_article","url":"https://financefeeds.com/cftc-wins-more-than-30-million-judgment-in-fundsz-digital-asset-fraud-case/"},{"credibility":2,"name":"Insurance Journal: CFTC Secures $30 Million Judgment Tied to Alleged Crypto Scam","type":"news_article","url":"https://www.insurancejournal.com/news/national/2026/10/02/887516.htm"}],"summary":"Rene Larralde was a co-founder and Advisory Board member of Fundsz, an unincorporated crypto and precious metals investment operation that the CFTC alleged defrauded over 14,000 participants from approximately October 2020. The CFTC filed a fraud complaint against Larralde and three co-defendants on July 31, 2023; Larralde died on September 6, 2023, before the case was resolved. His estate subsequently settled with the CFTC, agreeing to surrender a Florida residence and more than $2.7 million in assets to a court-appointed receiver for eventual distribution to victims.","timeline":[{"date":"2020-10-01","event":"Fundsz begins soliciting participants, according to the CFTC complaint. Approximate start date.","source":"CFTC Press Release 8766-23","source_url":"https://www.cftc.gov/PressRoom/PressReleases/8766-23"},{"date":"2023-07-31","event":"CFTC files complaint under seal in U.S. District Court, Middle District of Florida, against Fundsz, Rene Larralde, Juan Pablo Valcarce, Brian Early, and Alisha Ann Kingrey.","source":"CFTC Press Release 8766-23","source_url":"https://www.cftc.gov/PressRoom/PressReleases/8766-23"},{"date":"2023-08-02","event":"U.S. District Judge Wendy Berger signs ex parte statutory restraining order freezing all defendant assets and appointing a temporary receiver.","source":"BehindMLM: CFTC secures Fundsz Ponzi asset-freeze, owners charged","source_url":"https://behindmlm.com/companies/cftc-secures-fundsz-ponzi-asset-freeze-owners-charged/"},{"date":"2023-08-11","event":"CFTC publicly announces complaint and asset freeze against Fundsz and four principals.","source":"CFTC Press Release 8766-23","source_url":"https://www.cftc.gov/PressRoom/PressReleases/8766-23"},{"date":"2023-09-06","event":"Rene Larralde dies. The CFTC is informed of his death. Rachel Larralde is subsequently substituted as defendant representing his estate.","source":"BehindMLM: Larralde estate and Valcarce Fundsz settlement details","source_url":"https://behindmlm.com/companies/larralde-estate-valcarce-fundsz-settlement-details/"},{"date":"2025-04-01","event":"Court strikes answers of Brian Early and Alisha Kingrey after they fail to comply with court-ordered financial disclosures; entries of default are recorded against both defendants. Approximate date.","source":"BehindMLM: Fundsz home surrendered with missing floorboards, feces and maggots","source_url":"https://behindmlm.com/companies/fundsz-home-surrendered-with-missing-floorboards-feces-maggots/"},{"date":"2026-01-06","event":"Fundsz as an unincorporated entity is dismissed from the CFTC lawsuit, with individual defendant claims substantially resolved.","source":"BehindMLM: Fundsz dismissed from CFTC's Fundsz fraud lawsuit","source_url":"https://behindmlm.com/companies/fundsz-dismissed-from-cftcs-fundsz-fraud-lawsuit/"},{"date":"2026-07-30","event":"Court approves consent-order settlements for the estate of Rene Larralde and for Juan Pablo Valcarce. Larralde estate agrees to surrender Florida residence and more than $2.7 million in assets to the receiver.","source":"BehindMLM: Larralde estate and Valcarce Fundsz settlement details","source_url":"https://behindmlm.com/companies/larralde-estate-valcarce-fundsz-settlement-details/"},{"date":"2026-09-30","event":"U.S. District Court enters default judgment against Brian Early and Alisha Ann Kingrey for $31.48 million ($15.73M restitution + $15.75M civil penalties), with permanent trading and registration bans. Judgment and consent orders together settle all remaining CFTC claims in the Fundsz action.","source":"CoinCentral: CFTC Closes Fundsz Case With Millions Owed and Permanent Trading Bans","source_url":"https://coincentral.com/cftc-closes-fundsz-case-with-millions-owed-and-permanent-trading-bans"}]},"v":1}

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