The former CEO of Digitex Futures Exchange has pleaded guilty to violating bank secrecy laws

Digitex futures exchange founder and former CEO Adam Todd has pleaded guilty in federal court for failing to establish an anti-money laundering program at the company. In a May 7 statement, the U.S. Attorney's Office for the Southern District of Florida said Todd pleaded guilty to "intentionally causing" Digitex to violate the Bank Secrecy Act. Authorities indicted the former CEO in February. Todd operated an unregistered futures platform for U.S. clients between 2018 and 2022 and failed to implement and maintain AML and Know Your Customer (KYC) programs, according to the indictment.