SEC Moves to Halt Diamond-Linked Crypto ‘Ponzi Scheme,’ Freeze Assets
The U.S. Securities and Exchange Commission has taken action over what it alleges is a $30 million crypto scam based on supposed diamond investment.
U.S. authorities are trying to return $6.5 million in bitcoin and tether to the victims of an alleged Ponzi scheme.
NEW: The Ontario Securities Commission has published a scathing report calling now-defunct Canadian exchange QuadrigaCX a "Ponzi," and denouncing the practices of founder and CEO Gerald Cotten.
Besides facing criminal charges, the accused pseudo-pastors were charged by the CFTC and the SEC with allegedly soliciting over 1,000 people for a fake crypto fund.
The CFTC is charging Breonna Clark and Venture Capital Investments with defrauding investors by pretending to run a commodity pool invested in crypto and foreign currency contracts.
U.S. authorities have arrested three members of BitClub Network, alleging the mining pool is a long-running Ponzi scheme.