Search Query: #ponzi

Armando Gutierrez Rosas purportedly intended to invest these funds in U.S. real estate and mining operations in Mexico, assuring investors of monthly returns as high as 10 percent. Instead, Gutierrez operated a Ponzi scheme, diverting investor funds to cover his personal expenses, which notably included the acquisition of a $2.5 million mansion in Texas.

Six executives of AirBit Club, a fraudulent cryptocurrency scheme involving a purported mining business and money laundering ring, have pleaded guilty to running a $100 million Ponzi scheme and face up to 20 years in prison, prosecutors said.

The US Department Of Justice has charged Forsage, a purportedly decentralized finance (DeFi) cryptocurrency investment platform, and its four founders for their roles in a global Ponzi and pyramid scheme that raised approximately $340 million from victim-investors. Vladimir Okhotnikov, aka Lado; Olena Oblamska, aka Lola Ferrari; Mikhail Sergeev, aka Mike Mooney, aka Gleb, aka Gleb Million; […]

“Affinity-based fraud schemes all-too-often seek to exploit the trust generated within a community. Perpetrators target the identified communities because they are familiar with the fears and challenges that may deter investors from reporting or effectively communicating the details of the fraud to law enforcement or regulatory authorities.”