RATE Group | Alleged Las Vegas Scammer Charged for $11 Million Crypto Binary Options Ponzi
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Alleged Las Vegas Scammer Charged for $11 Million Crypto Binary Options Ponzi

18 Oct Alleged Las Vegas Scammer Charged for $11 Million Crypto Binary Options Ponzi

Posted at 02:19h in Bitcoin News by

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Alleged Las Vegas Scammer Charged for $11 Million Crypto Binary Options Ponzi

A Las Vegas man is charged with raising at least $11 million from cryptocurrency investors he promised to trade binary options for, and make gains of up to 300%. According to the charges the money was sent from new clients to previous ones in a classic Ponzi scheme manner.

Also Read: Binance to Add Bitcoin Cash to Its Decentralized Exchange

CFTC Charges Las Vegas Man in $11 Million Fraud

The U.S. Commodity Futures Trading Commission (CFTC) has announced it has filed a civil enforcement action in the U.S. District Court for the District of Nevada, charging David Gilbert Saffron of Las Vegas as well as his company, Circle Society, Corp., with fraudulent solicitation, misappropriation, and registration violations. The case reportedly involves an $11 million binary options scheme Saffron operated through Circle Society. The court issued an order freezing the assets controlled by Saffron and his company following the filing.

Alleged Las Vegas Scammer Charged for $11 Million Crypto Binary Options Ponzi

“Digital assets and other 21st…

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