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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
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
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
Regulation

Nadex Revokes Membership of Dominick Carducci after FX Scam Conviction

  • Carducci has been permanently banned from trading on Nadex Markets.
Friday, 18/09/2020 | 03:14 GMT by Celeste Skinner
Brokers

SEC, CFTC Claw Back over $1 Billion in WG Trading Scam

  • WG Trading operated commodities-trading and investment-advisory business that swindled investors out of more than $1.3 billion.
Friday, 11/09/2020 | 18:39 GMT by Aziz Abdel-Qader
News

Chinese Police Arrest 27 Plus Token Masterminds

  • The Ponzi scheme has reportedly defrauded $5.7 billion from the investors.
Thursday, 30/07/2020 | 13:05 GMT by Arnab Shome
Regulation

British Columbia Fines Two Canadians for Running a Ponzi Scheme

  • A Richmond resident and his fellow raised roughly $5 million from 85 investors between February 2015 and March 2016
Thursday, 16/07/2020 | 21:18 GMT by Aziz Abdel-Qader
Brokers

CFTC Acts Against $14M FX and Binary Options ‘Ponzi Scheme’

  • Through three brands, the defendants offered binary options and forex trading and are alleged to have fleeced 91 investors.
Wednesday, 08/07/2020 | 22:45 GMT by Aziz Abdel-Qader
Regulation

SEC: Rhoda Burkholz to Pay $250K for Role in Ponzi Scheme

  • Burkholz has agreed to pay the money without admitting nor denying the allegations from the regulator.
Tuesday, 16/06/2020 | 06:00 GMT by Celeste Skinner
Brokers

CFTC Charges GNTFX Owner with Fraud Ponzi Scheme

  • Mikkelsen showed one of his victims that his account grew from $4,000 to over $26,000 in less than a year
Monday, 18/05/2020 | 18:40 GMT by Aziz Abdel-Qader
Retail FX

Pennsylvania Lawyer Charged in $2.7 Million Ponzi Scheme

  • Todd Lahr, 60, targeted his own law clients for the fraudulent sale of the securities of two entities.
Tuesday, 24/03/2020 | 17:27 GMT by Aziz Abdel-Qader
News

OneCoin Scam's Main Site Goes Offline: Law Enforcement Closes In

  • The alleged scam, which is estimated to have stolen at least $4.4 billion, was operational until late last week.
Tuesday, 03/12/2019 | 06:22 GMT by Rachel McIntosh
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