cryptocurrency Ponzi scheme – DIGIT INFO

86-year-old to pay $14M after admitting to running crypto Ponzi scheme

DIGIT — Wed, 09 Oct 2024 06:22:24 +0000

Prosecutors only sought a five-year probation sentence for crypto schemer David Kagel because of his age and ailing health.

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SEC Files Emergency Action Against Bkcoin in $100 Million Crypto Fraud Scheme

DIGIT — Tue, 07 Mar 2023 03:30:28 +0000

The U.S. Securities and Exchange Commission (SEC) has filed an emergency action against Miami-based investment adviser Bkcoin and one of its principals, Kevin Kang. “The defendants disregarded the structure of the funds, commingled investor assets, and used more than $3.6 million to make Ponzi-like payments to fund investors,” the SEC alleged. SEC’s ‘Emergency Action’ Against […]

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US Charges Indian Citizen in $3.4 Billion Crypto Ponzi Scheme Bitconnect

DIGIT — Sun, 27 Feb 2022 04:30:37 +0000

The founder of the $3.4 billion crypto Ponzi scheme Bitconnect has been charged in the United States. “If convicted of all counts, he faces a maximum total penalty of 70 years in prison,” said the U.S. Department of Justice. Bitconnect’s Founder Could Go to Prison for 70 Years The U.S. Department of Justice (DOJ) announced […]

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