Ponzi Scheme

Florida man escapes paying a $4.5M SEC penalty over a crypto Ponzi scheme

The founder of a multi-million crypto Ponzi scheme has escaped paying a $4.5 million penalty to the U.S. Securities and Exchange Commission. On March 23, the U.S District Court of Southern Florida initially ordered Jose Angel Aman to pay the SEC more than $4.2 million in disgorgement, and $300,000 in prejudgement interest. However, the court …

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FBI arrests 24-year-old crypto trader for commodities and wire fraud

U.S. criminal authorities have brought criminal charges against a crypto trader who they say defrauded investors out of over $5 million.  The Department of Justice announced on Tuesday that it had arrested Jeremy Spence. Between 2017 and 2019, the 24-year-old Spence operated a crypto investment scheme under the name of “Coin Signals,” primarily via Twitter and Discord.  …

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Mastermind of Bitcoin Mining Ponzi Scheme Extradited to the US: $20 Million in Victims’ Funds Laundered

<div class=”featured_image_container”> </div> <div class=”td-a-rec td-a-rec-id-content_top “><a data-bid=”1″ href=”https://news.bitcoin.com/linkout/422919″ rel=”nofollow noopener noreferrer” target=”_blank”><img loading=”lazy” src=”http://scoreit.online/wp-content/uploads/2020/12/1456×360-1.jpg” alt width=”728″ height=”180″></a></div><strong>The US government says it has extradited Gutemberg Dos Santos, the co-founder of the Airbit Club Ponzi scheme from Panama and he now awaits his trial in a Manhattan court. Dos Santos is facing charges relating to his …

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Chinese Police Seize $4.2 Billion in Multiple Cryptocurrencies From Plustoken Ponzi Clampdown

<div class=”featured_image_container”> </div> <div class=”td-a-rec td-a-rec-id-content_top “><a data-bid=”1″ href=”https://news.bitcoin.com/linkout/424769″ rel=”nofollow noopener noreferrer” target=”_blank”><img loading=”lazy” src=”https://scoreit.online/wp-content/uploads/2020/11/728-by-90-2x-1-12.png” alt width=”728″ height=”90″></a></div><strong>Chinese police have seized more than $4.2 billion worth of crypto assets in its clampdown against the Plustoken Ponzi scheme.</strong> According to a court ruling made public on Nov. 26, and shared by The Block, law enforcement confiscated …

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Charged Aussie Bitconnect promoter faces up to 47 years in prison

The Australian Securities and Investments Commission, or ASIC, has charged the former Australian national representative of BitConnect for his involvement in the multi-billion-dollar crypto Ponzi scheme. According to a Nov. 17 statement from the ASIC, the commission — with assistance from the U.S. Federal Bureau of Investigation — has charged John Louis Anthony Bigatton for …

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Nigerian Authorities Put Mastermind of the Inksnation Crypto Scam on Wanted List

<div class=”featured_image_container”> </div> <div class=”td-a-rec td-a-rec-id-content_top “><a data-bid=”1″ href=”https://news.bitcoin.com/linkout/422919″ rel=”nofollow noopener noreferrer” target=”_blank”><img loading=”lazy” src=”http://scoreit.online/wp-content/uploads/2020/11/lottery-new-bn-12.jpg” alt width=”728″ height=”180″></a></div><strong>Nigeria’s Economic and Financial Crimes Commission (EFCC) is seeking the public’s help in locating Omotade Sparks Amos Sewanu, the mastermind behind the Inksnation crypto scam. According to a notice published in the local media on November 11, the …

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Spanish Police Arrest Head of Billion-Dollar Crypto Arbitrage Platform on Fraud Allegations

Spanish National Police have arrested the operator of cryptocurrency arbitrage firm Arbistar 2.0 in a crackdown on the platform that researchers and investors allege to be a massive bitcoin Ponzi scheme. The arrest should serve as a reminder to crypto investors of the value bitcoin’s traceable blockchain provides to investigators. While scammers can easily dupe …

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Philippines Regulator Warns Investors to Steer Clear of Mining City’s Bitcoin Vault Ponzi

<div class=”featured_image_container”> </div> <div class=”td-a-rec td-a-rec-id-content_top “><a data-bid=”1″ href=”https://news.bitcoin.com/linkout/387399″ rel=”nofollow noopener noreferrer” target=”_blank”><img loading=”lazy” src=”http://scoreit.online/wp-content/uploads/2020/10/wb_728x180-21.jpg” alt width=”728″ height=”180″></a></div><strong>There’s a mining contract scheme people are discussing and making the rounds on the web called “Mining City” or “Bitcoin Vault.” The Philippines SEC recently put out a warning against the operation and the alleged masterminds behind the …

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Leaked Data Outs Bitcoin Investment Company as Scam: Founders Deny the Allegations

A South African group calling itself “Anonymous ZA” has published fresh information that seemingly supports long-standing allegations that Mirror Trading International (MTI), an ostensible bitcoin investment company, is running a multi-level marketing scam. The new information, which was reportedly obtained after a breach of MTI internal systems, shows that the investment company is “entirely structured …

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