SEC Charges 4 People in a $295 Million Global Crypto Ponzi Scheme That Scammed Over 100,000 Investors

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The U.S. Securities and Exchange Commission (SEC) announced indictments against four people for their role in a fraudulent cryptocurrency Ponzi scheme on Friday.

The Securities and Exchange Commission described Dover Torres Braga, Geoff Paradise, Killionalani Akana Taylor, and Jonathan Tetro as being involved in the Trade Coin Club, a “fraudulent crypto Ponzi scheme that raised more than 82,000 bitcoin, worth $295 million at the time, from more than 100,000 investors.” around the world ,

The commission emphasized that “to ensure that our markets are fair and secure, we will continue to use blockchain tracking and analytics tools to help us prosecute individuals who commit securities fraud.”

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