Tag: Ponzi
SEC Doubles Down on Busting Up Affinity Fraud Ponzi Schemes
The Securities and Exchange Commission (SEC) has stepped up its legal war on affinity fraud with charges against the alleged operators of a...
Why the SEC Reacts So Harshly to ‘Affinity Fraud’ Ponzi Schemes
Of all the investment scams and unregistered offerings that the Securities and Exchange Commission (SEC) pursues, few arouse as much vehemence as “affinity...
How a Bollywood Actor Became Part a Crypto Ponzi Scheme Probe
The latest celebrity influencer to come under scrutiny for promoting an alleged crypto ponzi scheme is the popular Bollywood actor Govinda.
The actor is...
Indian Authorities Uncover $120M Crypto Ponzi Scheme
Local authorities in the Indian state of Odisha took down a $120 million crypto Ponzi scheme on Tuesday. Local media revealed that the...
Unbacked Crypto Is a Ponzi Scheme
The governor of Ireland’s central bank, Gabriel Makhlouf, has referred to aspects of crypto as a “Ponzi scheme.” Regulators worldwide are cracking down...
DeFi Founders of Forsage Ponzi Platform Charged for Fraud
The founders of the Forsage decentralized finance (DeFi) platform have been formally prosecuted by a federal grand jury in the District of Oregon.
According...
Bitcoin a ‘Pet Rock Ponzi’ Says JPM Head Jamie Dimon
JPMorgan Chase CEO Jamie Dimon dissed Bitcoin (yet again) on the sidelines of the World Economic Forum’s annual summit in Davos, Switzerland.
In an...
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...
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,...