RATE Group | Cryptocurrency executives charged with running $11 million Ponzi scheme
65925
post-template-default,single,single-post,postid-65925,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Cryptocurrency executives charged with running $11 million Ponzi scheme

20 Oct Cryptocurrency executives charged with running $11 million Ponzi scheme

Posted at 04:35h in Cryptocurrency News by

[ad_1]

Organized crime in the UK turns to cryptocurrencies for money-laundering schemes
Albanian gangs are using fintech. Law enforcement says it needs a new approach to tackle the problem.

Executives of a US company are being accused of raising at least $11 million through a cryptocurrency-based Ponzi scheme. 

This week, the US Commodity Futures Trading Commission (CFTC) said that a civil enforcement action has been filed against David Gilbert Saffron and Circle Society, Corp., a Nevada-based firm. 

According to prosecutors, Saffron allegedly operated a Ponzi scheme with the assistance of other defendants at the company, soliciting and accepting a minimum of $11 million in both Bitcoin (BTC) and US dollars.  

These funds were taken from investors on the promise that their ‘investment’ would be traded and exchanged for binary options on foreign…

[ad_2]

Source link

Tags:
, , , , , , ,