Ponzi scheme

Crypto Ponzi Scheme Leads to $14M Penalty for David Kagel

David Kagel, an 86-year-old former attorney, faces significant consequences for his role in a multi-million-dollar cryptocurrency Ponzi scheme. Recently, he admitted to charges of conspiracy to commit commodity fraud. This admission highlights the ongoing issues within the cryptocurrency market, particularly regarding fraudulent activities that target unsuspecting investors. Kagel’s scheme began

October 9, 2024 2 mins read

SEC Files Charges in $60M Ponzi Scheme Linked to Fake Crypto Bot

The United States Securities and Exchange Commission (SEC) has initiated legal action against two brothers, alleging their involvement in orchestrating a $60 million Ponzi scheme with a non-existent crypto trading bot. The SEC has filed a complaint in the US District Court for the Northern District of Georgia, Atlanta, against

August 27, 2024 2 mins read

Forcount Ponzi Scheme Promoter Faces 20 Years for $8.4 Million Fraud

Juan Tacuri, a senior promoter of the Forcount cryptocurrency Ponzi scheme, has pleaded guilty to conspiracy to commit wire fraud. The plea was entered before Judge Analisa Torres at the Southern District of New York (SDNY) court, and he is set to be sentenced in New York in September for

June 6, 2024 2 mins read