An Illinois district judge sided with the U.S. Commodity Futures Trading Commission and ordered an Oregon man and his company to pay over $120 million, partially in restitution, to victims in what the agency called a "Ponzi"-like scheme.

Sam Ikkurty of Oregon and his company Jafia, LLC made "material misrepresentations," Judge Mary Rowland of the U.S. District Court for the Northern District of Illinois said in an opinion issued on Monday, but posted by the CFTC on Wednesday. The CFTC had said Ikkurty and his firm failed to register and engaged in fraud.

Notably, Judge Rowland also said that cryptocurrencies OHM and Klima were commodities in the order.

"The order finds not only are Bitcoin and Ethereum commodities within the CFTC’s jurisdiction, but also 'OHM and Klima, two non-Bitcoin …