A local resident alleges that he was defrauded out of more than $4 million through a complex investment scheme operated under the name United Trade Market, which he claims is not a legitimate trading platform but part of an organized criminal enterprise. The lawsuit was filed by Eugene Khavinson in the United States District Court for the Eastern District of New York on May 6, 2026, naming Lev Lieberman (also known as 'Good Trader,' 'GT,' or 'Michael'), United Trade Market (operating as UTMarket and UT-Pro), several individuals, numerous limited liability companies, corporations, partnerships, and unidentified parties as defendants.
According to the complaint, Khavinson asserts that from January 2025 through at least January 2026 he was induced by Lieberman to transfer funds based on false promises of professional investment management and fabricated trading results. The suit states that Lieberman falsely claimed the operation was founded by Pavel Durov—an internationally recognized technology entrepreneur who is not associated with the platform—to lend credibility to the enterprise. The complaint alleges: "The Enterprise’s client-facing operator, Defendant Lev Lieberman...induced Plaintiff to transfer $4,000,000.00 over the course of at least thirteen months through false representations of investment management, fabricated trading results, false promises of returns, and the fraudulent claim that the operation was founded by and associated with Pavel Durov — a real, internationally recognized individual who had no knowledge of, association with, or consent to the use of his identity in furtherance of the scheme."
Khavinson describes being directed to send money via wire transfers to at least sixteen unrelated shell entities across ten banks as well as cryptocurrency wallets controlled by members of what he calls "the United Trade Market Enterprise." None of these accounts returned his funds or provided any legitimate investment service. The complaint outlines how successive internet domains were used for the platform after prior ones were seized by law enforcement or compromised: "The Enterprise operated under successive domain names — ut-pro.systems, utmarket.tech, and unitedtrademarket.click — each deployed after the prior was seized by law enforcement or otherwise compromised."
The filing provides detailed descriptions of dozens of transactions spanning various phases—from initial transfers into personal bank accounts described as belonging to alleged 'money mules,' through increasingly sophisticated entity-based laundering using businesses in industries such as transportation, digital marketing, security integration, spirits distribution, technology services, real estate holdings, and others. It notes: "The Entity Defendants span unrelated industries — including transportation, real estate, digital marketing...none of which had any disclosed relationship to Plaintiff or any nexus to investment management or securities trading." Later phases saw a pivot from traditional banking channels into cryptocurrency transfers when banks began flagging activity.
Khavinson also alleges that throughout this period he received regular fabricated profit reports containing market analyses referencing advanced quantitative methods but providing no verifiable evidence that any trades were executed on his behalf. He claims that these reports were designed solely to maintain his confidence in continued participation: "Throughout the scheme Lieberman sent Plaintiff fabricated ‘profit reports’ at regular intervals...designed to maintain the illusion that Plaintiff’s funds were being actively and successfully traded through the United Trade Market platform."
In addition to financial losses exceeding $4 million personally—and unspecified additional losses from other victims—the plaintiff asserts violations under federal statutes including wire fraud (18 U.S.C. § 1343), money laundering (18 U.S.C. §§ 1956 & 1957), fraud related to identification documents (18 U.S.C. § 1028), as well as civil provisions under Racketeer Influenced and Corrupt Organizations Act (RICO). The suit states: "Plaintiff brings this action to recover his losses; to freeze the Enterprise’s assets wherever located; to compel an accounting of all misappropriated funds; and to obtain such other relief as will prevent the Enterprise from continuing to victimize additional individuals."
Khavinson seeks damages not less than $4 million plus attorneys’ fees and costs pursuant to RICO provisions. He also requests orders freezing assets connected with defendants wherever located and compelling full accounting for all misappropriated funds.
The case is being handled by Sauchik & Giyaur P.C., representing Eugene Khavinson. According to court records included in the filing itself—Case No.: 26-CV-2701—the matter is assigned before Judge LaShann DeArcy Hall with Magistrate Judge Vera M. Scanlon.
Source: 126cv02701_Khavinson_v_Lieberman_Complaint_Eastern_District_New_York.pdf