The U.S. Department of Justice (DOJ) is announcing the arrest of two Estonian citizens in connection with an alleged crypto money laundering scheme. In a new press release, the DOJ says the two indivi...
Tag: Scheme
HashFlare founders arrested in ‘astounding’ $575M crypto fraud scheme
The two founders of the now-defunct Bitcoin cloud miner HashFlare have been arrested in Estonia over their alleged involvement in a $575 million crypto fraud conspiracy. HashFlare was a cloud mining c...
Two Estonians Arrested for Running $500 Million Ponzi Scheme
Two Estonian Ponzi scheme fraudsters were arrested in Tallinn, Estonia, on Nov. 21, 2022, for duping investors out of $575 million. Sergei Potapenko and Ivan Turõgin lured victims through false crypto...
Ohio Investment Manager Arrested for Allegedly Running a $10M Cryptocurrency Ponzi Scheme
Rathnakishore Giri, a 27-year-old investment manager living in New Albany, Ohio, was arrested on Friday on criminal charges for alleging running a cryptocurrency investment scam that raised at least $...
Former US Regulator Likens FTX and Sam Bankman-Fried to Bernie Madoff and His Ponzi Scheme – Regulation Bitcoin News
Former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair likens the fall of crypto exchange FTX and its former CEO Sam Bankman-Fried to the infamous Ponzi Scheme of Bernie Madoff. “It fel...
Assessing the details of this latest Ponzi scheme amid the current market state
A 27-year-old investment manager from Ohio was arrested on 18 November for allegedly running a crypto Ponzi scheme. This fraudulent cryptocurrency investment scam raised at least $10 million from inve...
FTX founder accidentally described Ponzi scheme months before crash
Months before the cryptocurrency market crisis that followed the liquidity crunch at the crypto trading platform FTX, its now-former CEO had unintentionally described crypto staking or yield farming a...
Trump Organization CFO Weisselberg chokes up on witness stand, claims his ‘personal greed’ drove $1.7 million tax-avoidance scheme
NEW YORK (AP) — Donald Trump’s longtime finance chief choked up on the witness stand Thursday, saying he betrayed the Trump family’s trust by scheming to dodge taxes on $1.7 million in company-paid pe...
Tom Brady, Gisele Bundchen, and Steph Curry among celebs sued over FTX ‘Ponzi scheme’
A number of high-profile celebrities, including comedian Larry David and tennis star Naomi Osaka, are suffering a hit to their reputations after endorsing the bankrupt crypto exchange FTX. Now, their ...
Nayib Bukele Defends Bitcoin and Calls FTX a “Ponzi Scheme.”
El Salvador president Nayib Bukele compares the FTX exchange to a Ponzi scheme and hails Bitcoin’s scarcity and deflationary properties. Bukele lumped the Bernie Madoff case, Enron, WorldCom, and Sam ...
Ukraine’s Cyberpolice Expose Members of Crypto Fraud Scheme Making €200 Million a Year – Bitcoin News
A report shows Ukrainian Cyberpolice identified members of a group that defrauded people around the world through fake crypto investment offers. The criminal organization maintained offices and custom...
Cardano Founder Slams Ethereum Fans Who Called ADA “Ponzi Scheme”
Alex Dovbnya Charles Hoksinson took aim at the Ethereum community amid what appears to be the industry’s biggest crisis to date In a recent tweet, Input Output CEO Charles Hoskinson lashed out at prom...
FTX and Tron Have Launched a Highly Suspicious Withdrawal Scheme
Key Takeaways FTX is enabling its users to withdraw their funds, but only if they buy select tokens from the Tron network. These tokens—TRX, BTT, JST, SUN, and HT—are trading at a steep mark-up on FTX...
Former EU commissioner involved in suspected crypto Ponzi scheme
John Dalli, former Maltese finance minister and former EU Commissioner for Health and Food Safety, has deep ties to a suspected Ponzi scheme that involves a crypto operation known as QuickX. The Malta...
SEC to Hunt Down Alleged Crypto Ponzi Scheme; Charges Founder and Promoters
The United States Securities and Exchange Commission filed charges against the founder and promoters of an alleged crypto scheme. On Friday, 4th November 2022, the agency announced charging Trade Coin...
SEC Charges 4 People in $295M Global Crypto Ponzi Scheme That Duped Over 100,000 Investors – Regulation Bitcoin News
The U.S. Securities and Exchange Commission (SEC) has charged four people for their roles in a global cryptocurrency Ponzi scheme that duped more than 100,000 investors worldwide. The scheme raised mo...
SEC Charges Trade Coin Club for $295 Million Bitcoin Ponzi Scheme
The U.S. Securities and Exchange Commission today hit four people with charges for allegedly swindling investors out of nearly $300 million in a “fraudulent crypto Ponzi scheme.” In a Friday announcem...
U.S SEC Reveals $295M Bitcoin Ponzi Scheme Fraud
Investors in Trade Coin Club were promised “minimum returns of 0.35% daily.” Tetreault has settled the SEC’s claims against him, the statement said. The U.S. Securities and Exchange Commission (SEC) a...
U.S. SEC Charges Four Individuals Behind Alleged $295,000,000 Crypto Ponzi Scheme
The U.S. Securities and Exchange Commission (SEC) is bringing charges against four individuals the regulator claims propped up a $295 million crypto Ponzi scheme. The SEC alleges Trade Coin Club (TCC)...
Former MoviePass CEO charged in alleged fraud scheme
Sopa Images | Lightrocket | Getty Images Former executives at MoviePass and its parent company have been charged with fraud, according to a federal indictment that was unsealed Friday. Theodore Farnsw...
SEC charges Trade Coin Club in alleged $295 million bitcoin Ponzi scheme
The Securities and Exchange Commission filed a case against the operators of Trade Coin Club, which they allege to be a massive crypto Ponzi scheme. The SEC’s complaints outline a scheme ...
Celsius Creditors’ Lawyer ‘Looking Into’ Whether Firm Was a Ponzi Scheme: Report
A New York bankruptcy judge expanded the scope of the probe in the Celsius Network bankruptcy as the company’s customers demanded investigations into the crypto lender’s business operations, according...
Celsius Network Faces “Ponzi Scheme” Investigation, WSJ
Wahid Pessarlay Bankrupt crypto lender Celsius Network faces investigation whether it’s a “Ponzi Scheme” According to a Wall Street Journal (WSJ) report, the court appointed an examiner to dive into C...
Celsius Bankruptcy Case Trustee Criticizes $2.96M Bonus Scheme
8 seconds ago | 2 mins read Defi News In its Oct. 27 supporting statement for the objection, the trustee harshly criticized Celsius. Paying executives more in anticipation of a reorganization may seem...
Crypto trading ponzi scheme PGI Group shut down in UK
A Ponzi scheme known as Praetorian Group has been shut down in the UK, following an investigation by the US Department of Justice (DoJ) and a 2021 warning by the Securities and Exchange Commission (SE...
US Charges Chinese Spies in Scheme to Bribe Government Employee With Bitcoin to Steal ‘Secret’ Documents – Regulation Bitcoin News
The U.S. has charged two Chinese intelligence officers in a scheme to bribe a U.S. government employee to steal “secret” documents relating to the prosecution of a company in China. The defendants pai...
DOJ Charges Two Chinese Intelligence Officers in FBI Double Agent Bitcoin (BTC) Bribery Scheme
Two Chinese intelligence officers are facing criminal charges in the US for allegedly attempting to steal court documents and bribing an FBI agent with Bitcoin (BTC). According to a new statement from...
Crypto staking platform Freeway halts withdrawals, FatManTerra alleges Ponzi scheme
Freeway, a crypto-staking platform that touted up to 43% annual rewards, halted withdrawals and deposits on its platform on Oct. 23, citing market volatility. According to the notice posted on its web...
South African regulator unravels a pyramid scheme
South African regulator NCC has announced that it has uncovered that the famous mining company Obelisk is a pyramid scheme. According to the regulator, over 4,000 citizens invested in the company. The...
BTC Mining Investment Platform Declared Pyramid Scheme by South African Consumer Watchdog – Coinotizia
According to the National Consumer Commission, about 4,000 South Africans who invested in a bitcoin mining equipment supplier, Obelisk, may have participated in a pyramid scheme. The commission said p...