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The Fall of Medici Bank: Lessons on Fractional Reserve Banking From 15th Century Italy
16.4.2023
Amid the banking chaos of the 21st century, some are looking back more than 600 years ago, to the Medici Bank — one of the most powerful banks of its time. It established its business and became one of the most respected banks in Europe during its prime, and the prominent Italian family of bankers...
Founders of Multimillion-Dollar Global Crypto Ponzi Scheme ‘Airbit Club’ Plead Guilty
10.3.2023
The founders and promoters of multimillion-dollar cryptocurrency Ponzi scheme Airbit Club have pleaded guilty to various criminal charges. Airbit Club victims were promised “guaranteed daily returns on any membership purchased,” the U.S. Department of Justice (DOJ) detailed. Airbit...
Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’
9.3.2023
Internet users in Russia have been targeted in an email campaign advertising the launch of an alleged cryptocurrency issued by the state. Potential victims are encouraged to follow a link to the website of the fraudulent investment scheme, security experts said. Thousands of Investment Offers...
Nevada Man Pleads Guilty in $722 Million Fraudulent Cryptocurrency Scheme
26.3.2022
A Nevada man has admitted his role in laundering funds solicited for the Bitclub Network, a $722 million fraudulent cryptocurrency scheme. He also pleaded guilty to tax offenses. Bitclub Network Investor Pleads Guilty The U.S. Department of Justice (DOJ) announced Thursday that Gordon Brad...
US SEC Charges Man With Defrauding Crypto Investors in Two Digital Asset Securities Offerings
5.12.2021
The U.S. Securities and Exchange Commission (SEC) has charged a citizen of Latvia with defrauding investors in two crypto offerings. The fraudster “used fake names, fictitious entities, and fraudulent profiles to perpetrate his schemes, and misappropriated nearly all of the investor funds...
Japanese Police Arrest 4 Men Allegedly Behind $55 Million Crypto Investment Scheme
14.7.2021
Four alleged masterminds of the “Oz Project” have been arrested after duping investors across Japan for at least four years. According to investigators, the scheme raked in $55 million from about 20,000 investors, promising 2.5 times returns in four months. Police in Aichi Prefecture...