Case No. 1:24-CV-23745 Traders Domain FX Ltd

COMMODITY FUTURES TRADING COMMISSION

-v.-

TRADERS DOMAIN FX LTD. d/b/a THE TRADERS DOMAIN; FREDIRICK TEDDY JOSEPH SAFRANKO a/k/a TED SAFRANKO; DAVID WILLIAM NEGUS-ROMVARI; ARES GLOBAL LTD. d/b/a TRUBLUEFX; ALGO CAPITAL LLC; ALGO FX CAPITAL ADVISOR LLC n/k/a QUANT5 ADVISOR, LLC; ROBERT COLLAZO, JR.; JUAN HERMAN a/k/a JJ HERMAN; JOHN FORTINI; STEVEN LIKOS; MICHAEL SHANNON SIMS; HOLTON BUGGS, JR; CENTURION CAPITAL GROUP INC.; ALEJANDRO SANTIESTABAN a/k/a ALEX SANTI; GABRIEL BELTRAN; and ARCHIE RICE,

CASE NO. 1:24-cv-23745-ALTMAN

On September 30, 2024, in the United States District Court for the Southern District of Florida, the Commodity Futures Trading Commission filed a Complaint for Injunctive Relief, Civil Monetary Penalties, Restitution, and Other Equitable Relief. Relevant filings and orders in this matter are available below.

9/30/2024 – Complaint for Injunctive Relief, Civil Monetary Penalties, Restitution and Other Equitable Relief [ECF No. 1]

9/30/2024 – Motion to Seal New Civil Action [ECF No. 3]

9/30/2024 – Expedited Ex Parte Motion for Statutory Restraining Order, Appointment of Temporary Receiver, and Other Equitable Relief and Memorandum of Points and Authorities in Support Thereof (“SRO”) [ECF No. 5]

9/30/2024 – Summons Issued [ECF No. 6]

10/1/2024 – Order granting ECF No. 3, Motion to Seal [ECF No. 7] 

10/1/2024 – Order in Cases with Multiple Defendants [ECF No. 8]

10/02/2024 – Sealed Minute Order granting ECF No. 5, Plaintiff’s Expedited Motion for an Ex Parte SRO [ECF No. 9]

10/02/2024 – Order granting ECF No. 5, Plaintiff’s Expedited Motion for an Ex Parte SRO [ECF No. 10]

10/11/2024 – Motion to Unseal Docket and Case File [ECF No. 11] 

10/11/2024 – Order Granting ECF No. 11, Motion to Unseal Case [ECF No. 12]

10/24/2024 – Unopposed Motion to Continue the October 29, 2024 Show Cause Hearing [ECF No. 35] 

10/24/2024 – PAPERLESS ORDER granting ECF No. 35 Unopposed Motion to Continue Show Cause Hearing.  The Preliminary Injunction and Show Cause hearing set for October 29, 2024, shall be reset for November 12, 2024, at 2:00 p.m.  Since our Order granting the Plaintiff's ex parte Statutory Restraining Order [ECF No. 10] is set to expire on October 29, 2024, we'll sua sponte extend the effectiveness of that Order until November 12, 2024. Signed by Judge Roy K. Altman on 10/24/2024. (cps) (Entered: 10/24/2024) [ECF No. 36]

11/06/2024 - Motion to Continue the November 12, 2024 Show Cause Hearing and Extension of Statutory Restraining Order [ECF no. 57]

11/07/2024 - PAPERLESS ORDER granting 57 Motion to Continue November 12, 2024 Show Cause Hearing. The Preliminary Injunction and Show Cause hearing set for November 12, 2024, shall be reset for December 10, 2024, at 2:00 p.m. The Court will extend our ex parte Statutory Restraining Order [ECF No. 10] until December 10, 2024. Signed by Judge Roy K. Altman on 11/7/2024. [ECF. No. 59]

11/18/2024 – Plaintiff’s MOTION for Order Authorizing Alternate Service of Process Pursuant to Federal Rule of Civil Procedure 4(F)(3) and Memorandum of Law In Support Thereof by Commodity Futures Trading Commission and Declaration of Michelle Bougas in Support of Plaintiff’s Ex Parte Motion for Order Authorizing Alternate Service. [ECF No. 70 and ECF No. 70-1].

11/22/2024 - Unopposed MOTION to Continue Show Cause Hearing Scheduled for December 10 2024 by Robert Collazo, Jr. [ECF No. 75]

11/25/2024 – Order Authorizing Alternate Service of Process:  Granting 70 Ex Parte Motion for an Order Authorizing Alternate Service of Process Pursuant to Rule 4(f)(3) of the Federal Rules of Civil Procedure.  Signed by Judge Roy K. Altman on 11/25/2024. [ECF No. 77]

11/15/2024 - PAPERLESS ORDER granting 75 Unopposed Motion to Continue the Show Cause Hearing. The Preliminary Injunction and Show Cause hearing set for December 10, 2024, shall be reset for January 6, 2025, at 2:00 p.m. We find good cause to extend our ex parte Statutory Restraining Order [ECF No. 10 ] until January 6, 2025, as the parties have various conflicts throughout the month of December and all (but one) of the parties consent to the SRO's extension. We acknowledge that Defendant Holton Biggs' does object. See Motion at 2 ("[Biggs] opposes the extension of any further ex parte relief."). But Defendant Biggs has a pending motion to dismiss where he asks us to stay our statutory restraining order as soon as possible. See Motion to Dismiss [ECF No. 76] at 34 ("Defendant Buggs' motion to stay requires emergency consideration because of the irreparable harm that he is now suffering due to the receivership and the SRO, and because his businesses unrelated to TD are at increasing risk of financial distress and collapse with each passing day that the receivership and SRO are in effect. For these reasons, Defendant Buggs requests a ruling on his motion to stay as soon as possible."). We'll address Biggs's request for a stay once the Plaintiff has filed its response. In the meantime, however, we'll extend the SRO over Defendant Biggs's objection. Signed by Judge Roy K. Altman on 11/25/2024. [ECF No. 78].

12/30/2024 – Plaintiff’s MOTION for Continuance of January 6, 2024 Show Cause Hearing and Extending SRO.   [ECF No. 119]

12/30/2024 - PAPERLESS ORDER granting ECF No. 119 Unopposed Motion to Continue Preliminary Injunction Hearing and Extend Statutory Restraining Order.   Although we are hesitant to extend the SRO and preliminary injunction hearing further, we find good cause to do so one more time since the motion is unopposed and the parties have shown a need to depose key witnesses and "narrow... contested issues before the Court" in advance of this hearing. Motion at 6.  Accordingly, we'll reset the Preliminary Injunction and Show Cause hearing to January 24, 2025, at 2:00 p.m. The SRO as to Defendants Buggs, Collazo, Herman, Safranko, and Negus-Romvari shall also be extended until January 24, 2025. We warn the parties, however, that we aren't inclined to extend the SRO any further absent extraordinary circumstances. Signed by Judge Roy K. Altman on 12/30/2024. [ECF No. 120]

12/31/2024 – Ordering Requiring Motion for Clerk’s Default:  Gabriel Beltran response/answer due 1/8/2025; Archie Rice response/answer due 1/8/2025; Alejandro Santiestaban response/answer due 1/8/2025. By January 10, 2025, the Plaintiff shall file a motion for Clerk's default as to every Defendant that failed to respond to its Complaint by January 8, 2025. Signed by Judge Roy K. Altman on 12/31/2024. See attached document for full details.  [ECF No. 122].

1/10/2025 – Plaintiff’s Motion for Clerk's Entry of Default as to Algo Capital LLC, Algo FX Capital Advisor LLC, Ares Global LTD., Centurion Capital Group Inc., Juan Herman, David Williams Negus-Romvari, Fredirick Teddy Joseph Safranko, Traders Domain FX LTD.  [ECF No. 136]

6/05/2025 – MOTION for Order to Show Cause as to Defendant Juan Herman and Nonparty Bony J. Cruz and Memorandum of Law in Support by Kelly Crawford. (Attachments: # 1 Exhibit A - Receiver's Declaration, # 2 Exhibit B - Subpoena - Bony Cruz, # 3 Exhibit C - Affidavit of Service, # 4 Exhibit D - CNA of Bony Cruz, # 5 Exhibit E - ABC Injunction Order, # 6 Exhibit F - Agreement for Sale)(Landy, Russell) [ECF no. 242]

7/21/2025 – NOTICE OF WITHDRAWAL OF MOTION by Kelly Crawford re 242 MOTION for Order to Show Cause as to Defendant Juan Herman and Nonparty Bony J. Cruz and Memorandum of Law in Support filed by Kelly Crawford as to Nonparty Bony J. Cruz Only (Lamonica, Vincenzo) [ECF no. 288]

7/23/2025 – PAPERLESS ORDER. The Receiver previously filed a Motion to Show Cause why Defendant Juan Herman and Nonparty Bony J. Cruz "should not be held in civil contempt for their violations of the Receiver's subpoena and the clear orders of this Court[.]" Motion to Show Cause [ECF No. 242] at 1. On July 21, 2025, the Receiver withdrew the Motion to Show Cause as to Bony J. Cruz, but not as to Defendant Juan Herman. See Notice of Withdrawal of Motion to Show Cause [ECF No. 288] at 2 ("The Receiver does not withdraw the Show Cause Motion as to Defendant Juan Herman and respectfully requests that the Court grant the Show Cause Motion."). Accordingly, we'll hereby SET a hearing on the Receiver's Motion to Show Cause as to Defendant Herman [ECF No. 242] for August 8, 2025, at 2:00 pm, before Judge Roy K. Altman in Courtroom 12-4 in the Wilkie D. Ferguson, Jr. Courthouse, 400 N. Miami Ave., Miami, FL 33128. This hearing will take place simultaneously with the previously set hearing on the Receiver's Renewed Motion for Sanctions against Defendant Alex Santi. See June 24, 2025, Paperless Order [ECF No. 268]. Defendant Juan Herman is ORDERED to appear at this hearing in person. His failure to do so may result in our granting the Receiver's Motion to Show Cause by default and holding Defendant Herman in contempt of court. The Receiver is also ORDERED to serve a copy of this Order on Defendant Herman in accordance with our Order Authorizing Alternative Service of Process [ECF No. 77 ] and by any other means he reasonably believes will give Herman notice of this hearing. Signed by Judge Roy K. Altman on 7/23/2025. (cps) (Entered: 07/23/2025) [ECF No. 290]

8/11/2025 - ORDER GRANTING IN PART AND DENYING IN PART [ECF 234] Receiver's Renewed Motion for Sanctions and to Hold Defendant Alex Santiestaban in Contempt; and Receiver's Motion to Show Cause as to Defendant Juan Herman [ECF 242] is GRANTED. Signed by Judge Roy K. Altman on 8/11/2025. See attached document for full details. (blc) (Entered: 08/12/2025) [ECF 311]

11/04/2025—MOTION to Expand Receivership by Kelly M. Crawford (Attachments #1 Exhibit A – Receiver’s Declaration, #2 – Exhibit B – Declaration of Melissa Davis, Exhibit #3 – Exhibit C – Transcript, #4 Exhibit D – Sims Transcript, #5 Exhibit E – Santiesteban Transcript, #6 Exhibit F – Beltran Transcript) [ECF 354]

05/29/2026 - MOTION to Continue TRIAL AND EXTEND CASE MANAGEMENT DEADLINES BY 60 DAYS by Commodity Futures Trading Commission.  [ECF No. 474, 474-1 and 474-2]

06/01/2026 - PAPERLESS ORDER granting 474 Motion to Continue. The two-week trial calendar currently commencing on September 14, 2026, is CONTINUED by 60 days. All unexpired case-management deadlines governing the CFTC’s prosecution of its claims against defendants against whom claims remain pending are EXTENDED by 60 days. The Order does not stay this action as a whole, and does not continue, stay, modify, or otherwise affect any receivership proceeding, any sanctions or contempt proceeding, or any existing injunction, asset restraint, receivership order, preservation obligation, or other Court order.   [ECF No. 477]

06/04/2026 - AMENDED ORDER SETTING TRIAL AND PRE-TRIAL SCHEDULE: Jury Trial set for 11/16/2026 in Miami Division before Judge Roy K. Altman. Calendar Call set for 11/10/2026 01:45 PM in Miami Division before Judge Roy K. Altman. Signed by Judge Roy K. Altman on 6/4/2026. See attached document for full details.   [ECF No. 481]

08/03/2026 - Unopposed MOTION to Continue Extend Summary Judgment Deadline by Commodity Futures Trading Commission  [ECF No. 505, 505-1 and 505-2]

08/04/2026 - PAPERLESS ORDER granting 505 Unopposed Motion to Continue (the “Motion”). Our Plaintiff, the Commodity Futures Trading Commission (the “CFTC”), tells us that its settlement negotiations with the remaining defendants have “significantly advanced” and “may ultimately obviate the need for the CFTC to seek summary judgment against any remaining defendant.” Motion at 2. Accordingly, we GRANT the Motion and ORDER the parties to file motions for summary judgment by September 11, 2026.   [ECF No. 506]

09/03/2026 - Unopposed MOTION to Continue Trial at Least 90 days and Extend Summary Judgment Deadline by 60 Days by Commodity Futures Trading Commission. Responses due by 9/17/2026. (Attachments: # 1 Affidavit of Daniel Jordan, # 2 Text of Proposed Order) [ ECF No. 520, 520-1, and 520-2]

09/03/2026 - PAPERLESS ORDER granting 520 Unopposed Motion for Extension of Time. The parties’ deadline to file all motions for summary judgment is extended to November 10, 2026. All other deadlines, including the calendar call and trial date in this action, are TERMINATED. We’ll issue an amended scheduling order after we resolve the parties’ forthcoming summary-judgment motions.  [ECF No. 521]