Troy Mason settled allegations of Ztegrity forex fraud with the Commodity Futures Trading Commission (CFTC) for $943,570. The settlement, signed August 15th, was filed with the court on October 7th, where Mason formally admitted to all findings and allegations detailed in the CFTC's comprehensive complaint.
The CFTC initiated its lawsuit against Mason in June 2021, detailing multiple severe violations of federal commodity laws. The agency accused Mason of engaging in forex fraud, operating as an unregistered commodity pool operator, and committing fraud specifically as a commodity pool operator. Under federal regulations, a commodity pool operator is an individual or organization that solicits or accepts funds from clients to trade commodity interests, which includes foreign currency (forex). These operators must register with the CFTC and adhere to strict disclosure, record-keeping, and reporting requirements, all of which Mason allegedly circumvented with Ztegrity.
Mason had stated on Ztegrity's website that he collected over $460,000 from 411 participants. His marketing presented Ztegrity as a "forex savings club," promising secure, low-risk returns on investments in the volatile foreign exchange markets. The CFTC's investigation found these promises to be fundamentally misleading. Funds were not managed in a compliant or transparent manner, and the purported safety measures were deceptive.
Under the terms of the court-filed settlement, Mason will pay $643,570 in restitution directly to victims defrauded by Ztegrity. This amount represents the money participants lost due to the fraudulent scheme. Additionally, he must pay a $300,000 civil monetary penalty to the CFTC. A permanent injunction now bars Mason from engaging in any future activities that involve soliciting funds for commodity interests, acting as a commodity pool operator, or participating in any capacity requiring CFTC registration. This legal measure serves as a critical barrier, aiming to prevent him from repeating similar fraudulent schemes in the regulated financial markets.
The CFTC complaint detailed how Mason specifically misled existing and prospective participants through a carefully constructed facade. He required them to obtain a "zBlackcard," which in turn mandated monthly contributions to their respective accounts. This intricate mechanism, according to the CFTC, was designed "To further lead existing and prospective participants into believing that funds contributed to the Forex Savings Club were as safe as funds contributed to a savings account at a bank." The implication of bank-level safety, coupled with promises of high returns, proved to be a false assurance for investors who ultimately lost their money.
The Ztegrity scheme followed Mason's earlier venture, ZBlackCard, which first surfaced in 2018. At that time, the direct forex fraud aspect had not yet been fully implemented within the ZBlackCard structure. However, the operational model laid groundwork for subsequent, more explicit financial deceptions. Mason has continued to launch other ventures since Ztegrity's operations came under federal scrutiny.
He went on to establish "Our Gas Club" and "25X Club." These subsequent operations have also exhibited characteristics consistent with pyramid schemes, where participants profit primarily from recruiting new members rather than from the legitimate sale of genuine products or services. These models often collapse when recruitment slows, leaving most participants with losses. Fiona Robinson Moody, who has reportedly worked with Mason on these initiatives, has been observed actively blocking victims from the official 25XClub FaceBook group, hindering transparency and victim communication.
Traffic to the 25X Club website has significantly declined over recent months, according to data from SimilarWeb. This reduction suggests a potential decrease in new participant engagement and overall scheme activity, a common indicator of a struggling or collapsing pyramid structure. The full scope of victim losses and total participant numbers for 25X Club remains unconfirmed, pending any further regulatory scrutiny or public disclosures. Mason continues to promote 25X Club as of October 7th.