Ponzi Scheme

A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. The scheme leads victims to believe that profits are coming from product sales or other means, and they remain unaware that other investors are the source of funds.

Source: en.wikipedia.org

SEC Charges 17 in Alleged Ponzi Scheme Involving CryptoFX
SEC Charges 17 in Alleged Ponzi Scheme Involving CryptoFX
March 14, 2024  |  Cryptocurrency

The Securities and Exchange Commission (SEC) has charged 17 individuals connected with Houston-based CryptoFX, alleging that they were involved in a Ponzi scheme. These charges come...

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Report: Regulators Issue Formal Orders to Wells Fargo to Enhance Monitoring
Report: Regulators Issue Formal Orders to Wells Fargo to Enhance Monitoring
November 16, 2023  |  Bank Regulation

Wells Fargo is reportedly grappling with regulatory obligations to enhance its monitoring of financial crime. Regulators have issued formal orders to Wells Fargo, instructing the bank...

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SEC Charges Podcaster Matthew Motil in Alleged Ponzi Scheme
SEC Charges Podcaster Matthew Motil in Alleged Ponzi Scheme
September 25, 2023  |  Security & Fraud

The Securities and Exchange Commission (SEC) has taken legal action against Matthew Motil, the host of “The Cash Flow King” podcast, for allegedly defrauding investors in an...

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FBI Charges Investment Manager in $10M Crypto Ponzi Scheme
FBI Charges Investment Manager in $10M Crypto Ponzi Scheme
November 20, 2022  |  Security & Fraud

Federal authorities have charged an Ohio man with taking part in a fraudulent cryptocurrency investment scheme that raised at least $10 million from investors. According...

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Federal CFTC Files Civil Charges Against Ohio Man and Companies in Alleged Digital Asset Scheme
Federal CFTC Files Civil Charges Against Ohio Man and Companies in Alleged Digital Asset Scheme
August 12, 2022  |  Legal

The federal Commodities Figure Trading Commission (CFTC) filed civil charges against an Ohio man and his three companies, alleging he perpetuated a digital asset trading...

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US CFTC Charges South African With $1.7B Bitcoin Fraud
US CFTC Charges South African With $1.7B Bitcoin Fraud
June 30, 2022  |  Cryptocurrency

The federal Commodity Futures Trading Commission on Thursday (June 30) filed a civil enforcement action in the U.S. District Court alleging Cornelius Johannes Steynberg of...

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Bitcoin Daily: Alleged Chinese Crypto Mining Scam Nets $11M
Bitcoin Daily: Alleged Chinese Crypto Mining Scam Nets $11M
April 22, 2020  |  Bitcoin

An alleged new digital currency Ponzi scheme out of China, Antimatter Kingdom (AK), has seemingly brought in bitcoin valued at $11 million in under a...

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Bitcoin Daily: Ping An’s FinTech Arm Teams Up To Launch Blockchain Solution; CFTC Calls For Default Ruling For Alleged Ponzi Scheme Founder
Bitcoin Daily: Ping An’s FinTech Arm Teams Up To Launch Blockchain Solution; CFTC Calls For...
April 05, 2020  |  Bitcoin

OneConnect Financial Technology and China Merchants Port Group (CMPort) will work to create a blockchain-based system with Shenzhen customs to serve the Guangdong-Hong Kong-Macao Greater Bay Area....

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Bitcoin Daily: Binance Applies For Singapore Crypto License; CFTC Files Charges In Digital Ponzi Scheme
Bitcoin Daily: Binance Applies For Singapore Crypto License; CFTC Files Charges In Digital Ponzi Scheme
February 16, 2020  |  Bitcoin

Binance Holdings has applied for an operating license in Singapore under the country’s new payments legislation, which aims to be a comprehensive regulatory agency for...

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