Cory Kromray, the CEO of Driven Trading, has been indicted on serious charges of wire fraud and money laundering, as announced on May 14, 2025, in the Western District of Wisconsin. The indictment alleges that Kromray defrauded investors out of approximately $3.6 million between September 2018 and March 2025, using the funds for lavish personal expenses while misleading investors with false promises of high returns.
The Rise and Fall of Driven Trading
Driven Trading, an unregistered automated forex trading platform, was led by Kromray alongside executives Gary Engels (COO) and Livia Fisher-Kane (CMO). The company first gained attention in 2021 when it partnered with Jimmy Ezzell’s Young Entrepreneur Project (YEP). However, suspicions of securities fraud led YEP to sever ties in February 2022. By March 2023, the remnants of Driven Trading were absorbed into the iX Global Ponzi scheme, which itself collapsed in June 2024 following a botched SEC lawsuit and ongoing investigations.
iX Global Collapse: The SEC’s 2023 lawsuit against iX Global exposed its fraudulent operations, including unregistered securities offerings tied to crypto mining and other schemes, leading to its eventual downfall.
Allegations of Fraud and Deception
According to the indictment, Kromray portrayed himself as a successful trader, flaunting wealth through social media posts showcasing luxury items like exotic cars, a large home, and tropical vacations. He promised investors monthly returns of 4% to 8%, with potential gains up to 30%, through investments in stocks, mutual funds, cryptocurrency, and forex. However, the reality was starkly different:
- Kromray allegedly used investor funds for personal purchases, including a 2022 Lamborghini Urus, a 2020 GMC Sierra truck, a 2023 Malibu ski boat, and a 2024 Durango trailer.
- He provided investors with fake account statements to create the illusion of successful trading.
- Payments to some investors were made using funds from other investors, a hallmark of a Ponzi scheme.
- Kromray failed to disclose that he was misappropriating funds and not investing as promised.
In a marketing video, Kromray claimed a “divine inspired motivation” to help people, stating his desire to use his “God-blessed” talents to impact lives. The indictment paints a contrasting picture, alleging he exploited this narrative to lure investors into his fraudulent scheme.
Legal Consequences and Forfeiture
If convicted, Kromray faces up to 20 years in prison for each of the eight wire fraud counts and up to 10 years for each of the two money laundering counts. The Department of Justice is also seeking forfeiture of assets, including a Minocqua, Wisconsin property, a 2024 Durango trailer, and a 2020 GMC Sierra truck, along with a money judgment.
As of now, there is no record of Kromray’s arrest, and his current whereabouts remain unclear, raising questions about his next moves.
What’s Next?
The indictment, investigated by the FBI and IRS Criminal Investigation, marks a significant step in holding Kromray accountable. With Assistant U.S. Attorney Aaron Wegner prosecuting, the case highlights the ongoing crackdown on financial fraud and Ponzi schemes. As the legal process unfolds, investors and the public await further developments in this high-profile case.