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Ponzi Schemes

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Markets
Russia
Founder of Alleged $95M Ponzi Nabbed in Russia, 3 More Sought
Finiko was labeled as a Ponzi scheme by the Bank of Russia but still attracted millions in investment.
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By Anna Baydakova
Aug 13, 2021 at 6:06 p.m. UTC
Aug 13, 2021
RussiaPonzi Schemes
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Policy
Ponzi schemes
The Lesson of Bitconnect: Promoters Can Be Liable
The SEC has filed charges against five promoters of the alleged crypto fraud. It's a chance to learn from the mistakes of Trevon James and Co.
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By David Z. Morris
Jun 2, 2021 at 2:50 p.m. UTC
Jun 2, 2021
Ponzi SchemesSecurities and Exchange CommissionOpinionBitconnect
secagain-2
Markets
Ponzi schemes
SEC Sues 5 Over $2B Bitconnect Ponzi
Bitconnect collapsed in 2018 after state regulators in Texas and North Carolina filed cease-and-desist letters against its lending and exchange platform.
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By Nikhilesh DeKevin Reynolds
May 28, 2021 at 7:37 p.m. UTC
May 28, 2021
Ponzi SchemesSecurities and Exchange CommissionBitconnect
securities-and-exchange-commission-sec-building-in-washington-dc
Markets
Sec
SEC Brings Enforcement Action Against Alleged $6.9M Ponzi Scheme
Shawn Cutting allegedly claimed to be an experienced financial adviser to raise funds from over 450 investors.
securities-and-exchange-commission-sec-building-in-washington-dc
By Jamie Crawley
Mar 11, 2021 at 5:16 p.m. UTC
Mar 11, 2021
SECPonzi Schemes
capetown
Policy
South africa
South African Regulator Seeks More Crypto Powers After Alleged Ponzi Schemer's Collapse
“At the point something becomes a Ponzi scheme, we have lost our jurisdiction,” a regulator told Bloomberg.
capetown
By Tanzeel Akhtar
Jan 27, 2021 at 2:06 p.m. UTC
Jan 27, 2021
South AfricaRegulationPonzi SchemesCoinFlash
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Markets
Ponzi schemes
GemCoin Founder Sentenced to 10 Years for $147M Crypto Scheme
The judge scheduled a restitution hearing for victim investors for this summer.
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By Danny Nelson
Jan 11, 2021 at 11:12 p.m. UTC
Jan 11, 2021
Ponzi SchemesGemCoin
jusiticescales
Markets
Fraud
Man Gets 6 Years for $25M Diamond and Crypto Ponzi Scheme
Jose Angel Aman, charged with operating the fraudulent investment scheme, was sentenced to serve six years in federal prison and pay over $23 million in victim restitution by...
jusiticescales
By Jaspreet Kalra
Dec 9, 2020 at 9:56 p.m. UTC
Dec 9, 2020
FraudPonzi SchemesDepartment of Justice
justice-department-officials-announce-charges-against-hsbc
Markets
Ponzi schemes
US Justice Department Extradites Alleged Co-Founder of Crypto Ponzi Scheme From Panama
The accused, Gutemberg Dos Santos, has been charged in an indictment and was extradited from Panama on Nov. 25.
justice-department-officials-announce-charges-against-hsbc
By Jaspreet Kalra
Nov 30, 2020 at 6:03 p.m. UTC
Nov 30, 2020
Ponzi SchemesDOJ
china-police-2
Markets
Crime
Chinese Authorities Have Seized a Massive $4B in Crypto From PlusToken Scam
Cryptocurrencies worth billions of dollars have been seized during the police crackdown on the PlusToken Ponzi scheme in China.
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By Daniel Palmer
Nov 27, 2020 at 10:35 a.m. UTC
Nov 27, 2020
CrimeChinaPonzi SchemesPlusTokenCoinFlash