SEC Files Lawsuit Against $300M Crypto Ponzi Scheme Targeting Latinos

The U.S. Securities and Exchange Commission (SEC) has initiated legal action against 17 individuals allegedly involved in a Ponzi scheme that amassed $300 million from more than 40,000 victims. Contrary to the SECs findings, the defendants persuaded investors that their money would be invested in cryptocurrency and other assets. Scheme Promised Life-Altering Wealth According to a press release by the SEC, the defendants enticed investors with promises of substantial wealth, misleading them about the nature of the investment scheme. Gurbir Grewal, the Director of SEC Enforcement,...


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