The SEC has accused Kang of misappropriating at least $371,000 in customer funds for his personal use, including paying for vacations, tickets to sporting events and rent on his New York apartment. Ac...
Tag: Ponzilike
Highlights from the court report detailing Celsius’ Ponzi-like downfall
Celsius Networks used to promise customers ”financial freedom” with a ”community first” company that sold products safer than a bank. ”We are Celsius. We dream big,”...
Celsius Was Operated in a Ponzi-Like Manner: Report
Key Takeaways Celsius used customer funds to pump the price of its CEL token. It also used new deposits to fund customer withdrawals. Celsius CEO Alex Mashinsky and other Celsius executives cashed out...
US SEC Sues Owner of Alleged Ponzi-Like Cryptocurrency Scam
The Securities and Exchange Commission launched a lawsuit again two advisory companies and their owner for running a Ponzi-like cryptocurrency scheme. The firms operated for over four years and manage...
China’s ponzi-like property market is eroding faith in the state
The 120km train ride between the cities of Luoyang and Zhengzhou is a showcase of economic malaise and broken dreams. From the window endless, half-built residential towers pass one after another for ...
Crypto Trader Running $5M ‘Ponzi-like’ Scheme Faces Nearly 4 Years in Prison: DoJ
Jeremy Spence, a 25-year-old Rhode Island crypto trader, also known as “Coin Signals” on social media channels, has been sentenced to 42 months in prison for defrauding 170 people for more than $5.37 ...