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Cryptonews Tags Ponzi Scheme

# Ponzi Scheme

All #Ponzi Scheme

Blockchain News
SEC Charges PGI Global Over $200 Million Crypto Ponzi Scheme
SEC enforcement has targeted PGI Global and founder Ramil Palafox after investors have lost $198 million in a membership scheme that has touted AI-driven crypto and FX trades, has misused $57 million for luxury items, and has channelled remaining funds to a Ponzi-like payout structure since 2020.
, by Julia Smith
Altcoin News
Indian Authorities Seize $190M Worth Crypto Linked to BitConnect Ponzi Scheme

The Indian Enforcement Directorate confiscated cryptos, $15,570 in cash, a Lexus SUV vehicle in connection with BitConnect Ponzi scheme.

, by Sujha Sundararajan
Blockchain News
Argentina Freezes $3.5M USDT Linked to Rainbowex Ponzi Scheme: Report

Argentine authorities have frozen $3.5 million in USDT linked to the Rainbowex Ponzi scheme, which defrauded thousands of investors, following extensive investigations that led to multiple arrests and international warrants.

, by Hassan Shittu
CFTC Accuses Pastor of Exploiting Church Members in $6M Crypto Fraud
A former pastor of a Spanish-speaking church in Washington state orchestrated a multiyear crypto fraud, raising over $5.9m from more than 1,500 investors, including many of his own congregants, according to a lawsuit the Commodity Futures Trading Commission filed Tuesday. Between Nov. 2021 and...
, by Shalini Nagarajan
IcomTech Promoter Sentenced To Decade In Federal Prison
IcomTech Promoter David Brend has been sentenced to ten years in prison for his role in the crypto Ponzi scheme.
, by Julia Smith
Senior Forcount Ponzi Scheme Promoter Sentenced To 20 Years In Prison
Juan Tacuri, a senior promoter in the Forcount Ponzi scheme, has been sentenced for his role in the crypto fraud scheme.
, by Julia Smith
86-Year-Old Ex-Attorney Hit with $14M Restitution, Five Years Probation in Crypto Ponzi Case
David Kagel has been sentenced to five years of probation and ordered to pay nearly $14 million for his role in a crypto Ponzi scheme.
, by Ruholamin Haqshanas
Court Orders Ex-Beverly Hills Attorney to Pay $14M in Restitution to $9.5M Crypto Ponzi Links
A US judge on Monday ordered an 85-year-old, recently disbarred California attorney to pay $14 million in restitution for his role in a $9.5 million cryptocurrency Ponzi scheme. David Kagel, who practised law in Beverly Hills, pleaded guilty to one count of conspiracy toward the fraud in...
, by Sujha Sundararajan
Oregon Man To Pay Over $209 Million For Supposed Crypto Ponzi Scheme
Sam Ikkurty is facing a hefty fine by the CFTC for running an alleged crypto Ponzi scheme. Here's what you need to know.
, by Julia Smith
SEC Charges Brothers in $60M Crypto Ponzi Scheme Involving Fake Trading Bot
The SEC has filed charges against two brothers for allegedly orchestrating a $60 million cryptocurrency Ponzi scheme centered around a fraudulent trading bot.
, by Ruholamin Haqshanas
Two Crypto Promoters Plead Guilty To Forcount Ponzi Scheme Wire Fraud Conspiracy
Two crypto promoters involved in the Forcount Ponzi scheme pled guilty to wire fraud conspiracy Monday. Here's what you should know.
, by Julia Smith
Philippines SEC Warns Public Against Unauthorized Skyline Crypto Trading
The Philippines Securities and Exchange Commission (SEC), the nation’s markets watchdog, has issued an advisory on Wednesday, warning the public against Skyline Crypto and Dry Goods Trading. The advisory informed public that individuals claiming to represent Skyline Crypto Trading are...
, by Sujha Sundararajan
New York AG Letitia James Sues NovaTech, AWS Mining For $1 Billion Crypto Pyramid Schemes
New York Attorney General Letitia James is suing crypto trading firm NovaTech, now shuttered digital asset company AWS Mining, and at least two key promoters for reportedly defrauding investors out of $1 billion, court documents from the June 6 lawsuit reveal. New Lawsuit From NY AG Letitia James...
, by Julia Smith
American Promoter Behind Forcount Crypto Ponzi Scheme Pleads Guilty to Wire Fraud Conspiracy
Juan Tacuri, 46, from Florida, a promoter in the global crypto Ponzi scheme known as Forcount pleaded guilty to conspiracy to commit wire fraud. In a statement, the U.S. Attorney's Office, Southern District of New York described Tacuri as one of the scheme’s most successful promoters who reaped...
, by Tanzeel Akhtar
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