Search
2 Promoters of Forcount Crypto Ponzi Scheme Plead Guilty to Wire Fraud Conspiracy
23.7.2024
Two more promoters of the Forcount crypto ponzi scheme – a Brazil-based scam that bilked Spanish-speaking investors out of $8.4 million between 2017 and 2021 – have pleaded guilty to their roles in the scheme
Judge labels 2 obscure altcoins as commodities in $120M Ponzi case
4.7.2024
An Illinois judge has sided with the Commodity Futures Trading Commission in a crypto fraud case, labelling two altcoins, OHM and KLIMA, as commodities
Philippine SEC Warns Against Skyline Crypto and Dry Goods Trading Investments
20.6.2024
The Securities and Exchange Commission of the Philippines issued an advisory on Wednesday to inform the public that Skyline Crypto and Dry Goods Trading is not authorized to solicit investments from the public. The company has been offering investment opportunities online, promising returns of...
Indian Authority Cracks Down on Highrich Online’s Crypto Operations
16.6.2024
India’s Enforcement Directorate (ED) has conducted searches that uncovered a Ponzi scheme involving cryptocurrency operations and HR Crypto Coin, leading to significant asset seizures and freezing. The coins were part of the scheme, luring people to invest with promises of a 15% annual...
Landmark Ruling: Crypto Dealings Not Illegal in India, Says High Court
14.6.2024
The Orissa High Court in India ruled that cryptocurrency dealings are not illegal under Indian law. This decision arose from a case involving individuals accused of fraud through a Ponzi scheme. Justice Sasikanta Mishra clarified that cryptocurrency is not considered money under the Prize Chits...
South African Police Nab Alleged Mastermind of Metaverse Ponzi Scheme
8.6.2024
Neil Leon De Waal, a key figure in the GS Partners metaverse fraud case, was reportedly arrested by South African law enforcement in late May. He was subsequently released on bail on June 3. Authorities began investigating De Waal following a complaint from one of his victims. The complainant,...
Claims Against Collapsed South African Bitcoin Investment Firm Rise to $84.5 Million
7.6.2024
Claims against Mirror Trading International (MTI) have reached over $84.5 million (ZAR1.6 billion), with more than 8,000 proven creditors as of the end of April. The MTI estate still holds around $33.7 million in its accounts. Legal action is underway in multiple countries to recover withdrawals...
NY Attorney General sues crypto trader NovaTech, claims $1B fraud
6.6.2024
Two people took in $1 billion in crypto deposits and traded $26 million of it, the suit alleges
Top promoter in Forcount ‘Ponzi’ pleads guilty to wire fraud conspiracy
6.6.2024
Part of the plea deal involved Juan Tacuri forfeiting nearly $4 million and real estate which were purchased with victim funds
Liquidators of South African BTC Scam Allocate Nearly 40% of Recovered Funds to Legal Fees and Taxes
4.6.2024
Out of the approximately $60 million (ZAR1.1 billion) that was recovered to pay back victims of the collapsed bitcoin investment platform Mirror Trading International (MTI), only $34.3 million remains. Court documents reportedly state that liquidators have used the recovered funds to pay...
Report Shows No Evidence of Special Treatment for BTC Ponzi Scheme Mastermind in Brazilian Jail
1.6.2024
The Brazilian State Attorney General has dismissed allegations that Johann Steynberg, the late mastermind of a South African bitcoin ponzi scheme, was granted irregular access to a computer and the internet while in prison. Acting public prosecutor Lauro Machado Nogueira recently released a report...
Turkey Detains 127 Crypto Ponzi Scheme Co-Conspirators, Seizes Assets Worth Over $31 Million
1.6.2024
According to Turkish authorities, the country’s law enforcement agencies have disrupted a criminal syndicate that lured unsuspecting residents into investing in a Ponzi scheme disguised as a cryptocurrency investment. The syndicate is reported to have swindled $1 billion from investors who were...
Estonian Nationals Extradited to US for $575M Crypto Fraud
1.6.2024
Two Estonian nationals have been extradited from Estonia to the U.S. to face charges for their roles in “a massive multi-faceted cryptocurrency Ponzi scheme,” according to an announcement by the U.S. Department of Justice (DOJ). Sergei Potapenko and Ivan Turõgin are accused of operating...
Lawyer Pleads Guilty in $9.5M Crypto Ponzi Scheme — Faces 5 Years in Prison
31.5.2024
David Kagel, a disbarred California attorney, pleaded guilty to orchestrating a cryptocurrency Ponzi scheme that defrauded victims of over $9.5 million. Kagel, 85, promised high returns through artificial intelligence trading bots and falsely claimed to hold $11 million in bitcoin to secure...
Arkbit crypto mining MLM fraud busted by Texas regulators
29.5.2024
Arkbit falsely claimed to operate Arkansas-based data centers for cloud mining various cryptocurrencies
Canada’s ‘Crypto King’ and Associate Arrested, Charged With Fraud in Alleged $30M Ponzi Scheme
16.5.2024
Two Canadian men have been arrested and charged with fraud for allegedly swindling investors out of $40 million CAD – approximately $30 million USD – in a crypto and foreign exchange investment scheme
Latam Insights: South African Ponzi Scheme Boss Dies in Brazil, Argentine House Passes Crypto Tax Regularization Bill
6.5.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: South African Ponzi scheme mastermind dies of a heart attack in Brazil, the Argentine House advances crypto tax regularization bill, and Buenos Aires targets...
BTC Ponzi Scheme Mastermind Suffers Heart Attack, Analyst Eyes $300K BTC Price, and More — Week in Review
5.5.2024
Johann Steynberg, the mastermind behind a South African bitcoin Ponzi scheme, died of a heart attack while under house arrest in Brazil. A technical analyst predicts a significant surge in Bitcoin’s price, suggesting it could reach $300,000 during the upcoming aggressive phase of the bull...
US Authorities Charge Man in Connection With $43 Million ‘Classic’ Ponzi Scheme
4.5.2024
U.S. authorities have charged a man they accuse of operating a Ponzi scheme, which purported to invest in a cryptocurrency trading enterprise. The operator of the scheme is accused of defrauding investors of at least $43 million. FBI Assistant Director James Smith said the actions of Idin Dalpour...
FBI Busts $43M Crypto and Las Vegas Hospitality Ponzi Scheme
2.5.2024
The FBI arrested New York resident Idin Dalpour for defrauding investors of $43 million in a multi-year Ponzi scheme that included a Las Vegas hospitality business and crypto trading operation.
The post FBI Busts $43M Crypto and Las Vegas Hospitality Ponzi Scheme appeared first on Cryptonews