1 / 2 Relevant items tagged with #PonziScheme
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US Sends Crypto Promoter to Prison for 20 Years in Multi-Million Dollar Ponzi Scheme
[Oct 17 6:30 AM] A cryptocurrency promoter was sentenced to 20 years in prison for running a Ponzi scheme that defrauded thousands of investors, particularly in Spanish-speaking U.S. communities. The scheme, disguised as a crypto mining operation, promised…
Forcount ‘Ponzi scheme’ promoter sentenced to 20 years in prison
[Oct 16 10:00 PM] According to US prosecutors, Juan Tacuri, and his co-conspirators, defrauded investors of $8.4 million in an apparent Ponzi Scheme.
Players Eye Lawsuits as Analysts Label Hamster Kombat a ‘Time Ponzi Scheme’
[Sep 30 2:50 PM] Analysts have begun to try to explain the weak performance of HMSTR, the Hamster Kombat official game token, since its token generation event and subsequent airdrop. Neomarkets chief analyst Oleg Kalmanovich assessed that one of the key problems…
SEC Freezes Assets of Crypto Trading Bot Operators in Alleged Ponzi Scheme
[Aug 28 3:30 AM] The U.S. Securities and Exchange Commission (SEC) has frozen the assets of Jonathan and Tanner Adam, alleging they ran a $60 million Ponzi scheme under the guise of a crypto trading bot. Over 80 investors were defrauded by promises of high returns…
Singapore Court Imposes 6-Year Prison Sentence on Crypto Ponzi Scheme Mastermind
Montenegro arrests executive suspected of $21M crypto fraud
[Aug 21 3:15 AM] Montenegrin police arrested FutureNet co-founder Roman Ziemian, alleging he was living under a false identity in the country’s capital city.
Man allegedly tries to ‘recover’ losses from BitConnect, kidnapping two
[Aug 19 2:10 AM] Indian authorities have arrested a man for allegedly kidnapping two employees of BitConnect creator Satish Kumbhani and extorting $125 million in crypto.
Indian Court Reaffirms Legality of Cryptocurrency, Grants Bail to Yes World CEO
[Aug 3 3:16 PM] The Orissa High Court in India has reaffirmed that cryptocurrency trading and transactions are neither banned nor deemed illegal in India. Citing the legality of crypto, the court granted bail to Sandeep Chowdhury, CEO of Yes World, who was accused…
Philippine SEC Warns Against Skyline Crypto and Dry Goods Trading Investments
[Jun 19 9:33 PM] The Securities and Exchange Commission of the Philippines issued an advisory on Wednesday to inform the public that Skyline Crypto and Dry Goods Trading is not authorized to solicit investments from the public. The company has been offering…
Indian Authority Cracks Down on Highrich Online’s Crypto Operations
[Jun 15 8:33 PM] India’s Enforcement Directorate (ED) has conducted searches that uncovered a Ponzi scheme involving cryptocurrency operations and HR Crypto Coin, leading to significant asset seizures and freezing. The coins were part of the scheme, luring…
Landmark Ruling: Crypto Dealings Not Illegal in India, Says High Court
[Jun 13 8:31 PM] The Orissa High Court in India ruled that cryptocurrency dealings are not illegal under Indian law. This decision arose from a case involving individuals accused of fraud through a Ponzi scheme. Justice Sasikanta Mishra clarified that…
NY Attorney General sues crypto trader NovaTech, claims $1B fraud
[Jun 6 3:00 PM] Two people took in $1 billion in crypto deposits and traded $26 million of it, the suit alleges.
Report Shows No Evidence of Special Treatment for BTC Ponzi Scheme Mastermind in Brazilian Jail
[Jun 1 5:17 AM] The Brazilian State Attorney General has dismissed allegations that Johann Steynberg, the late mastermind of a South African bitcoin ponzi scheme, was granted irregular access to a computer and the internet while in prison. Acting public prosecutor…
Turkey Detains 127 Crypto Ponzi Scheme Co-Conspirators, Seizes Assets Worth Over $31 Million
[Jun 1 2:21 AM] According to Turkish authorities, the country’s law enforcement agencies have disrupted a criminal syndicate that lured unsuspecting residents into investing in a Ponzi scheme disguised as a cryptocurrency investment. The syndicate is reported to…
Estonian Nationals Extradited to US for $575M Crypto Fraud
Lawyer Pleads Guilty in $9.5M Crypto Ponzi Scheme — Faces 5 Years in Prison
[May 30 10:21 PM] David Kagel, a disbarred California attorney, pleaded guilty to orchestrating a cryptocurrency Ponzi scheme that defrauded victims of over $9.5 million. Kagel, 85, promised high returns through artificial intelligence trading bots and falsely…
Arkbit crypto mining MLM fraud busted by Texas regulators
[May 29 4:19 AM] Arkbit falsely claimed to operate Arkansas-based data centers for cloud mining various cryptocurrencies.
The Bitcoin Ponzi Scheme Paradox
[May 16 3:12 PM] "Ponzi scheme" has become a byword for all manner of financial frauds and monetary scams. When a rapid six month collapse erased $2T (trillion) from crypto market capitalization in 2022, mainstream media outlets were quick to again label…
FBI busts $43M crypto and Las Vegas hospitality Ponzi scheme
[May 2 2:03 AM] The FBI arrested a New York resident for defrauding investors of at least $43 million in a multi-year Ponzi scheme that included a Las Vegas hospitality business and crypto trading operation.
A $300M Ponzi Scheme That Targeted Latinos Falsely Claimed to Buy Crypto, SEC Says
[Mar 14 2:40 PM] The U.S. Securities and Exchange Commission sued 17 individuals tied to an alleged Ponzi scheme that took in $300 million from over 40,000 victims.
SEC, DOJ Charge Individuals in $1.9 Billion Hyperfund Cryptocurrency Fraud
[Jan 31 3:30 AM] The SEC alongside the DOJ, has levied serious charges against key figures in a $1.9 billion cryptocurrency fraud scheme involving Hyperfund. SEC and DOJ Crack Down on $1.9 Billion Hyperfund Crypto Fraud The U.S. Securities and Exchange Commission…
New Zealand Police Seize Residential Property and Cash Owned by Fugitive Former Luxembourg Spy and Onecoin Adviser
[Jan 30 5:00 AM] A residential property in Wellington, New Zealand and more than $282,000 belonging to an adviser of Onecoin mastermind Ruja Ignatova was recently seized by the police. Detective Inspector Christiaan Barnard said his organization has no reason to…
HyperVerse's Alleged Ponzi Scheme Raked in Nearly $2B, Hired Actor as Fake CEO
[Jan 29 4:45 PM] HyperVerse was a nearly $2 billion fraudulent crypto investment scheme with a fake CEO at its helm, the U.S. Securities and Exchange Commission (SEC) and a grand jury allege in a lawsuit and criminal indictments against two of its leaders.
Report: CEO of Collapsed Crypto Investment Scheme Hyperverse May Not Exist
[Jan 5 6:30 AM] A probe into the affairs of the collapsed crypto fund Hyperverse has determined that its highly educated CEO may not exist. The investigation also found that before its collapse, Hyperverse and its CEO both enjoyed celebrity support. The…
Crypto is for criminals? JPMorgan has been fined $39B and has its own token
[Dec 6, 2023 10:06 PM] Crypto proponents on X wasted no time pointing out the hypocrisy of JP Morgan CEO Jamie Dimon’s recent remarks to the United States Banking Committee about Bitcoin and crypto.
Estonian court nixes extradition of accused crypto scammers to US
[Nov 29, 2023 2:20 PM] Ivan Turogin and Sergei Potapenko are suspected in a $575 million fraud case, but they can’t be exposed to U.S. detention conditions.
Blast's One-Week, $600M Haul Shows Promise of Yield, Pitfalls of Hype
[Nov 29, 2023 6:00 AM] The idea of a yield-paying layer-2 blockchain atop Ethereum has clearly demonstrated market allure. But even the project's biggest investor has taken issue with the execution and marketing surrounding the initial rollout.
THORChain becomes third largest DEX as Rune surges 50% in a week
[Nov 12, 2023 11:37 PM] THORChain $1.32 billion in trading volume over the last week only trails Uniswap and PancakeSwap among non-centralized exchanges.
Luxor refutes claims its Bitcoin hashrate-backed product is BlockFi, Celsius 2.0
[Nov 5, 2023 8:04 PM] “The return comes from hashrate, not from pixie dust, ponzi schemes, or rehypothecation,” a Luxor Technology executive stressed.