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Ponzi Scheme

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Regulation

Owners of FX Hedge Fund Admit to Role in Ponzi Scheme

  • They fraudulently convinced victims to invest in FX and commodity markets through Cifuentes Fund Management (CFM).
Monday, 18/11/2019 | 22:12 GMT by Aziz Abdel-Qader
Brokers

Belize’s Watchdog Terminates License of Oasis Global FX

  • As per the reports from CFTC, the company owners defrauded 700 investors out of more than $75 million.
Thursday, 10/10/2019 | 19:14 GMT by Aziz Abdel-Qader
Regulation

SEC Stops Alleged $125 Million Trading Scam

  • The regulator has filed a complaint, accusing Mediatrix Capital Inc. and its three principals of fraud.
Thursday, 19/09/2019 | 06:25 GMT by Celeste Skinner
News

PlusToken Scam Could Be Much Larger than $2.9 Billion

  • A growing amount of crypto allegedly being dumped on exchanges could be connected with PlusToken.
Tuesday, 03/09/2019 | 09:43 GMT by Rachel McIntosh
Brokers

US Court Accuses Thomas Lanzana of Running ‘Ponzi-Like’ FX Scam

  • Lanzana published false statements showing balances of $800,000 for a forex trading account that did not exist.
Wednesday, 28/08/2019 | 14:53 GMT by Aziz Abdel-Qader
News

$3 Billion Chinese Ponzi Scheme Dumping BTC on Major Exchanges

  • The scheme defrauded around 10,000 investors.
Thursday, 15/08/2019 | 12:07 GMT by Arnab Shome
Regulation

NZ Ponzi Scheme Operator Sentenced to 6 Years' Imprisonment

  • Kelvin Clive Wood scammed more than $7 million from his clients.
Wednesday, 24/07/2019 | 07:17 GMT by Celeste Skinner
News

Venezuelan Group Sues $30 Million Argyle Coin Ponzi Scheme

  • The ICO of the coin was halted by the SEC in May.
Wednesday, 17/07/2019 | 08:29 GMT by Arnab Shome
Regulation

US Judge Orders CFTC to Attend Court Session of Oasis FX Scam

  • The CFTC charges owners of Oasis Global FX with running a Ponzi-style scheme through their retail FX platform.
Friday, 28/06/2019 | 19:00 GMT by Aziz Abdel-Qader
Regulation

Owner of Y Trading LLC Pleads Guilty to Binary Options Ponzi Scheme

  • Yehuda Belsky pleaded guilty to three separate charges, including one count of securities fraud.
Wednesday, 26/06/2019 | 06:11 GMT by Celeste Skinner
News

OneCoin Rejects Samoan Central Bank Ponzi Scheme Claims

  • The crypto project is facing backlash from regulators around the world.
Monday, 20/05/2019 | 07:11 GMT by Arnab Shome
Regulation

Belize Regulator Suspends Oasis Global FX Over Alleged Fraud

  • The IFSC took the step shortly after the firm was named in a CFTC investigation
Wednesday, 08/05/2019 | 10:15 GMT by David Kimberley
Regulation

Operators of $1.5 Billion Fraud Scheme Extradited to the US

  • The defendants solicited money through promising high returns and low risk through a technique called “factoring.”
Thursday, 18/04/2019 | 21:04 GMT by Aziz Abdel-Qader
News

South Korean Authorities Nabb 12 for $18 Million Crypto Ponzi Scheme

  • The scammers were primarily targeting elderly people.
Monday, 08/04/2019 | 11:15 GMT by Arnab Shome
Regulation

Unique Forex Operators Slapped With $2.7 Million Penalty

  • The court fined Thomas Lanzana and his company Blackbox Pulse, aka Unique Forex.
Tuesday, 02/04/2019 | 20:56 GMT by Aziz Abdel-Qader
Regulation

CabbageTech Operator Arrested by FBI on Crypto Fraud Case

  • Patrick McDonnell was indicted on nine counts of securities fraud and he faces up to 20 years in prison.
Tuesday, 26/03/2019 | 22:03 GMT by Aziz Abdel-Qader
Brokers

New Zealand Brokerage Owner Orchestrates $7M Ponzi Scheme

  • After defrauding clients, Kelvin Clive Wood has admitted to having misled clients
Wednesday, 20/03/2019 | 13:30 GMT by Victor Golovtchenko
Regulation

FSMA Judgement on GTI Net is Upheld in Brussels Court

  • In 2017 the regulator warned investors to not invest with GTI Net as it looked like a Pyramid scheme.
Friday, 22/02/2019 | 09:03 GMT by Celeste Skinner
Regulation

Silver Miller Files Lawsuit Against Crypto Ponzi Scheme

  • At its highest point, the alleged Ponzi scheme claimed to be managing more than $5 million worth of investor assets.
Thursday, 27/12/2018 | 07:47 GMT by Celeste Skinner
Regulation

CFTC Charges US Trader with FX and Commodities Fraud

  • Dro Kholamian and his company Blue Star Trading allegedly misappropriated around $775,000 from at least three individuals.
Tuesday, 18/12/2018 | 06:59 GMT by Celeste Skinner
Regulation

Man Accused of Running $900,000 Forex Ponzi Scheme Arrested

  • Thomas Lanzana has been accused of defrauding a minimum of 20 people.
Thursday, 13/12/2018 | 07:43 GMT by Celeste Skinner
Regulation

FX Trader Pleads Not Guilty to $7 Million Ponzi Scheme in NZ

  • The SFO alleges that the trader created a Ponzi scheme to offset the net trading losses of his FX brokerage.
Friday, 07/12/2018 | 09:16 GMT by Celeste Skinner
Regulation

Federal Court Fines Operator of Gelfman Bitcoin Fraud $2.5 Million

  • Gelfman staged a fake computer hack to conceal trading losses and misappropriation.
Thursday, 18/10/2018 | 21:46 GMT by Aziz Abdel-Qader
News

Busted: Texas Man Gets 2 Years in Prison for $9 Million Crypto Ponzi Scheme

  • Homero Joshua Garza ran four fraudulent crypto mining companies.
Friday, 14/09/2018 | 07:01 GMT by Rachel McIntosh
Regulation

SEC Charges 5 for Selling Securities of Ponzi Scheme Woodbridge

  • The accused are Barry M. Kornfeld, Ferne Kornfeld, Lynette M. Robbins, Andrew G. Costa, Albert D. Klager, and their companies.
Monday, 20/08/2018 | 18:33 GMT by Celeste Skinner
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