Woofun AI reports that the U.S. Commodity Futures Trading Commission filed a lawsuit against Trevor Vernon and Argent Capital Management. The agency alleges Vernon operated a commodity pool trading stock index futures, options, and crypto assets including Bitcoin and Ethereum between March 2022 and February 2026.

The CFTC claims Vernon raised approximately $14.8 million from at least 60 investors while falsely advertising performance. Investor losses exceeded $8.6 million, with Vernon allegedly concealing these deficits and misappropriating around $3 million to pay returns in a manner described as "reminiscent of a Ponzi scheme." Additionally, $136,000 was diverted for private jet travel. The regulator seeks to bar Vernon from future transactions, recover illegal gains, impose civil penalties, and compensate affected investors.