charges / 2 posts found
SEC Charges Trade Coin Club Founding Members With Operating a $295-Million Ponzi Scheme
Cryptocurrency Cameron Thompson is a news reporter at CoinDesk. The Securities and Exchange Commission (SEC) said Friday that it’s charging the founding members of a multi-level marketing organization with operating a $295 million crypto Ponzi scheme. The SEC is charging Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor and Jonathan Tetreault for their involvement in Trade Coin Club, which raised over 80,000 bitcoin (BTC) from over 100,000 investors. Braga, who founded the firm, allegedly deceived investors by telling them they could generate daily returns of 0.35% on their crypto through a bot, but instead used these funds to compensate himself, […]
U.S. CFTC charges South African company with record $1.7 bln bitcoin fraud
Signage is seen outside of the US Commodity Futures Trading Commission (CFTC) in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com WASHINGTON, June 30 (Reuters) – The U.S. commodities regulator announced on Thursday it had filed civil charges against a South African man and his company for operating a fradulent commodity pool worth over $1.7 billion in bitcoin. The Commodity Futures Trading Commission (CFTC) said the fraud scheme, which saw the firm solicit bitcoin online from thousands of people to purportedly operate a commodity pool, was the largest it had ever pursued […]