Ponzi Scheme
Fake Trading Guru Used YouTube Channel to Lure $18 Million In Alleged Ponzi Scheme
- SEC claims Arsalan Rawjani targeted the North Texas Ismaili Muslim community with a fake trading program.
- The scheme collapsed in late 2023 after three years of operations using investor money for personal expenses.
Tuesday, 09/09/2025 | 06:23 GMT by
Damian Chmiel
Dead Fraudster's Widow Pays $3.8M to Victims of $29M Ponzi Scheme
- The widow agrees to disgorge funds from her husband's fraudulent investment operation that bilked investors of millions.
- Swensen promised guaranteed 5% returns while actually using investor funds for personal expenses, including aircraft and real estate.
Wednesday, 20/08/2025 | 05:54 GMT by
Damian Chmiel
How Two “Investors” Fooled 55 People from New Zealand for Seven Years
- The married couple convinced victims from the local community that they were experienced traders. Zapytaj ChatGPT
- In reality, the fraudsters used new funds to pay earlier investors and cover personal expenses.
Monday, 11/08/2025 | 06:52 GMT by
Damian Chmiel
FCA Prosecutes for Facebook-Based £1.3 Million Ponzi Scheme Targeting Retail Investors
- The FCA prosecuted the Ponzi scheme that targeted 238 investors, promising 350% annual returns.
- A recent BaFin study shows investors aged 18–45 increasingly use social media for financial advice.
Friday, 08/08/2025 | 06:20 GMT by
Tareq Sikder
Ex-California Broker Charged With Allegedly Running Investment Fraud Since 1998
- 77-year-old Edwin Lickiss is accused of defrauding at least 50 investors out of $9.5 million.
- The defendant continued soliciting investors for a decade after losing his broker's license, prosecutors say.
Tuesday, 22/07/2025 | 08:01 GMT by
Damian Chmiel
Fake Forex Traders Bilk Victims of $650 Million: “Precision-Engineered Betrayals”
- Two men who ran OmegaPro have been charged with defrauding investors by promising 300% returns on FX trades.
- Defendants used social media wealth displays to lure thousands of victims worldwide before pocketing millions for themselves.
Wednesday, 09/07/2025 | 07:56 GMT by
Damian Chmiel
Dallas Trio Charged in $91 Million Ponzi Scheme, SEC Says
- The institution alleges they misled over 200 investors with false promises of high returns and risk-free investments.
- “We remain unwavering in our commitment to hold individuals accountable for defrauding investors,” SEC commented.
Wednesday, 30/04/2025 | 06:52 GMT by
Damian Chmiel
SEC Alleges PGI's Forex Operations Diverted $57 Million to Fund Luxury Lifestyle
- The SEC has charged Ramil Palafox with running a $198 million fraudulent crypto and FX scheme.
- The company allegedly misappropriated $57 million for personal luxuries while operating a Ponzi-like payment structure.
Wednesday, 23/04/2025 | 06:50 GMT by
Damian Chmiel
Brazil Jails Braiscompany Trio for 171 Years over R$1.1 Billion Ponzi Crypto Scheme
- The mastermind has received 128 years for leading a pyramid structure that drew in 20,000 investors.
- The court ordered R$36 million to be seized, but victim recovery remains uncertain.
Friday, 18/04/2025 | 14:16 GMT by
Tareq Sikder
Two Estonians Plead Guilty to $577M Crypto Ponzi Scheme, May Face 20 Years in Prison
- HashFlare founders agreed to forfeit $400M, with funds potentially used for victim compensation.
- The founders faked mining profits, defrauded customers, and spent funds on luxuries.
Thursday, 13/02/2025 | 18:13 GMT by
Tareq Sikder
Holy Crypto! Pastor Accused of Fleecing Flock in $5.9 Million-Dollar Scheme
- A Washington state reverend allegedly defrauded his Spanish-speaking congregation, promising impossible returns.
- The CFTC has filed charges seeking restitution while alleging he operated a Ponzi scheme with no actual trading platform.
Wednesday, 11/12/2024 | 08:18 GMT by
Damian Chmiel
$180 Million Forex Ponzi Scheme Lands 11-Year Prison Sentence
- Tony Iervasi, former director of Courtenay House, has been sentenced in Australia.
- The fraud, which operated for over 6 years, resulted in a net loss of $54 million to around 585 investors.
Tuesday, 03/09/2024 | 08:12 GMT by
Damian Chmiel
Texas Regulator Halts Alleged Crypto Cloud Mining Scheme
- Payment processor used despite jurisdiction restrictions; account holder located outside the claimed base.
- Manipulated media, including CEO video at conference, were cited; no evidence of presence was found.
Wednesday, 29/05/2024 | 11:01 GMT by
Tareq Sikder
Wells Fargo Pushed to Improve Financial Crime Monitoring
- Regulators are pressuring the bank to improve its compliance procedures.
- The bank’s processes, rather than a specific event or client, are being questioned.
- Wells Fargo is also facing a lawsuit claiming it allowed a client to run a Ponzi scheme.
Thursday, 23/11/2023 | 11:38 GMT by
Louis Parks
Ponzi Scheme: Definition and How to Avoid Them
- Some red flags are harder to spot than others.
Friday, 13/10/2023 | 10:32 GMT by
Pedro Ferreira
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}