Ponzi Scheme

SEC Freezes Assets of Crypto Trading Bot Operators in Alleged Ponzi Scheme

cryptosheadlines1 month ago01 mins

The U.S. Securities and Exchange Commission (SEC) has frozen the assets of Jonathan and Tanner Adam, alleging they ran a $60 million Ponzi scheme under the guise of a crypto trading bot. Over 80 investors were defrauded by promises of high returns, while the funds were allegedly used for personal luxuries. The SEC seeks injunctions,…

Singapore Court Imposes 6-Year Prison Sentence on Crypto Ponzi Scheme Mastermind

cryptosheadlines1 month ago01 mins

Yang Bin, a 61-year-old Dutch national, was sentenced by a Singapore court to six years in prison and fined S$16,000 Singapore dollars for orchestrating a cryptocurrency Ponzi scheme. Yang’s company, A&A Blockchain Innovation, falsely claimed to own 300,000 cryptocurrency mining machines, promising investors a daily return of 0.5%. In reality, the company had no such…

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SEC Freezes Assets of Crypto Trading Bot Operators in Alleged Ponzi Scheme

Singapore Court Imposes 6-Year Prison Sentence on Crypto Ponzi Scheme Mastermind