Tags: Ponzi Scheme

Ivan Turogin and Sergei Potapenko are suspected in a $575 million fraud case, but they can’t be exposed to U.S. detention conditions.

AirBit Club co-founder Dos Santos is now the last AirBit defendant not yet sentenced but is scheduled to learn his fate on Oct. 4, 2023.

Former IcomTech head Marco Ochoa is the latest crypto fraudster to face charges, while the CFTC charged another company and its head.

Convicted fraudster Pablo Renato Rodriguez will also need to serve three years of supervised release after he finishes his 12 year imprisonment sentence.

Despite having no trading experience a Tennessee couple convinced 100 people to hand over their money for a uniquely named crypto investment pool.

The alleged scheme claimed it could generate returns of up to 2.2 a day by leveraging AI to trade more often and with higher profits than a person could.

A public burn function introduced in the latest upgrade allegedly allows users to burn tokens from other addresses.

Co-founder Rodriguez and senior promoters Millan, Aguilar and Chairez all recently pled guilty to the charges, while the other founder, Dos Santos pled guilty in October, 2021.

The scheme‘s founders and promoters promised victims their money would be invested in a lucrative mining operation, but instead spent funds on cars, jewelry and luxury homes.

According to the Department of Justice, Forsage employed smart contracts which were coded in ways consistent with a Ponzi scheme.

The commission alleges the defendants fraudulently solicited over $7 million worth of bitcoin and ether and misappropriated some of the funds in a Ponzi scheme.

Senator Elizabeth Warren claims the Trump Administration “gave a green light” to a cryptocurrency market full of junk tokens, rug pulls and Ponzi schemes.