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Ponzi Scheme
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CryptoCurrency
SEC Busts BKCoin for Running $100M 'Ponzi-Like Scheme'
The scheme made Ponzi-like payments with more than $3.8 million.
One co-founder used at least $371,000 for personal expenses.
Tuesday, 07/03/2023 | 06:56 GMT
by
Arnab Shome
Retail FX
CFTC Busts $145M FX Ponzi Schemes, Charges Masterminds
The three schemes were interconnected.
The agency already received a court order to freeze the defendants' assets.
Friday, 24/02/2023 | 05:19 GMT
by
Arnab Shome
CryptoCurrency
US Indicts Four Co-Founders of $340M Forsage Ponzi Scheme
They are facing charges of conspiracy to commit wire fraud.
The SEC also brought fraud charges against the four and another seven individuals.
Thursday, 23/02/2023 | 06:07 GMT
by
Arnab Shome
Retail FX
Another Director of $180m FX Ponzi Scheme Faces 10 Years in Jail
After Irevasi and Papoulias pled guilty, the court charged Sipina with criminal offences.
The Ponzi scheme operated for almost seven years.
Wednesday, 22/02/2023 | 09:08 GMT
by
Damian Chmiel
CryptoCurrency
US Court Orders $17M Restitution Distribution to 800 BitConnect Victims
The scheme defrauded around 4,000 investors of $2.4 billion.
The classic Ponzi scheme promised an annualized return of 3,700 percent.
Friday, 13/01/2023 | 10:12 GMT
by
Arnab Shome
Retail FX
SEC Busts $4.3 Million FX Ponzi Schemes
The two schemes, Avail Progression and Elite Generators, dupped over 100 investors.
The operator of the schemes did not invest any proceeds.
Monday, 19/12/2022 | 06:19 GMT
by
Arnab Shome
CryptoCurrency
Crypto Ponzi Schemes Forcount and IcomTech Charged with Fraud
Both schemes targeted small communities.
They have promised to double the investment in six months.
Thursday, 15/12/2022 | 06:52 GMT
by
Arnab Shome
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CryptoCurrency
Ohio Man Faces Criminal Charges for $10 Million Crypto Ponzi Scheme
He lured investors by flaunting a luxurious lifestyle.
He is facing 20 counts of wire fraud.
Monday, 21/11/2022 | 06:34 GMT
by
Arnab Shome
Retail FX
FX Ponzi Scheme Defrauded $180m, Director Faces 10 Years in Jail
The scheme operated for almost seven years, starting in 2010.
The former director of a fraudulent company faces five criminal charges.
Tuesday, 08/11/2022 | 10:06 GMT
by
Damian Chmiel
CryptoCurrency
Crypto Ponzi Scheme Defrauded $295m in BTC. The SEC Charged Its Creator
The trading bot was supposed to auto-invest, however, the money never hit the market.
A huge part of the embezzled BTC went strait to the Ponzi scheme creator and promoters.
Monday, 07/11/2022 | 09:02 GMT
by
Damian Chmiel
News
EmpiresX 'Head Trader' Pleads Guilty for $100M Crypto Ponzi Scheme
The scheme defrauded investors of around $100 million.
A separate CFTC complaint is seeking full restitution to defrauded participants.
Friday, 09/09/2022 | 08:36 GMT
by
Arnab Shome
News
NZ Authorities Investigate Crypto Ponzi Scheme
According to investigators, Quwiex Limited suspended withdrawals last month.
The company also presented a fake registration address on its website.
Monday, 23/05/2022 | 07:52 GMT
by
Bilal Jafar
News
US Authorities Sentence Crypto Trader to 42 Months in Prison
Jeremy Spence defrauded more than 170 investors.
The Securities and Commodities fraud unit is handling the case.
Thursday, 12/05/2022 | 06:49 GMT
by
Bilal Jafar
Institutional FX
CFTC Continues Crackdown, Busts $543K FX Ponzi Scheme
The scheme defrauded at least seven pool participants.
The funds were used for personal expenses and Ponzi-styled payouts.
Wednesday, 11/05/2022 | 06:16 GMT
by
Arnab Shome
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News
CFTC Files Charges against Four Operators of $44 Million Crypto Ponzi
People from Florida, India, North Carolina and New York are involved in the scheme.
The website used for the Bitcoin Ponzi was dubbed 'JetCoin'.
Tuesday, 08/03/2022 | 23:47 GMT
by
Felipe Erazo
Retail FX
Alista Group Executives Fined $1.6M for Precious Metal Fraud
They misappropriated customer funds and ran a Ponzi-styled scheme.
The regulator first brought charges against the scheme in July 2020.
Thursday, 03/03/2022 | 10:37 GMT
by
Arnab Shome
Retail FX
US SEC Charges Georgia Resident with Operating a $110 Million Ponzi Scheme
The investment adviser and his companies raised over $110 million from over 400 investors for the Ponzi scheme.
Wednesday, 25/08/2021 | 16:45 GMT
by
Felipe Erazo
Retail FX
Thai Police Charge Celebrity Actress for Forex-3D Connections
The scheme dupped around 9,692 investors of almost 2 billion baht.
Friday, 05/03/2021 | 07:04 GMT
by
Arnab Shome
Regulation
SEC Obtains Final Judgment against Man Convicted in Ponzi Scheme
The 74-year-old founded and run a company called Booth Financial Associates.
Monday, 22/02/2021 | 20:19 GMT
by
Aziz Abdel-Qader
News
FBI Arrests Jeremy Spence in Coin Signals’ Ponzi Scheme
Spence, 24, solicited investors through Telegram and Discord to invest in a series of crypto hedge funds.
Tuesday, 26/01/2021 | 18:17 GMT
by
Aziz Abdel-Qader
Retail FX
Thailand Police Nab $66 Million Forex-3D Ponzi Scheme Kingpin
The police already confiscated 1 billion baht-worth Forex-3D-liked assets.
Monday, 18/01/2021 | 13:42 GMT
by
Arnab Shome
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News
Founder of $147M Crypto Ponzi Scheme Gets 10-Year Prison Sentence
The scheme defrauded around 70,000 investors spanning across the globe.
Tuesday, 12/01/2021 | 07:13 GMT
by
Arnab Shome
News
US Regulator Charges Top AirBit Club Promoter
Chairez was charged for her activities as an unregistered broker.
Wednesday, 16/12/2020 | 07:05 GMT
by
Arnab Shome
News
Chinese Police Seize over $4.2 Billion from PlusToken Proceeds
The scheme has defrauded 2.6 million investors of over $11 billion.
Friday, 27/11/2020 | 10:53 GMT
by
Arnab Shome
News
Busted! Crypto Ponzi Schemer Apprehended after 'Sea Scooter' Escape Attempt
44-year-old Matthew Piercey is up against multiple charges connected to two crypto-related Ponzi scheme firms.
Wednesday, 18/11/2020 | 08:06 GMT
by
Rachel McIntosh
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