SEC Freezes Assets of Crypto Trading Bot Operators in Alleged Ponzi Scheme
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…
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Singapore Court Imposes 6-Year Prison Sentence on Crypto Ponzi Scheme Mastermind
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,…
Indian Court Reaffirms Legality of Cryptocurrency, Grants Bail to Yes World CEO
The Orissa High Court in India has reaffirmed that cryptocurrency trading and transactions are neither banned nor deemed illegal in India. Citing the legality of crypto, the court granted bail…
Philippine SEC Warns Against Skyline Crypto and Dry Goods Trading Investments
The Securities and Exchange Commission of the Philippines issued an advisory on Wednesday to inform the public that Skyline Crypto and Dry Goods Trading is not authorized to solicit investments…
Indian Authority Cracks Down on Highrich Online’s Crypto Operations
India’s Enforcement Directorate (ED) has conducted searches that uncovered a Ponzi scheme involving cryptocurrency operations and HR Crypto Coin, leading to significant asset seizures and freezing. The coins were part…
Landmark Ruling: Crypto Dealings Not Illegal in India, Says High Court
The Orissa High Court in India ruled that cryptocurrency dealings are not illegal under Indian law. This decision arose from a case involving individuals accused of fraud through a Ponzi…
Report Shows No Evidence of Special Treatment for BTC Ponzi Scheme Mastermind in Brazilian Jail
The Brazilian State Attorney General has dismissed allegations that Johann Steynberg, the late mastermind of a South African bitcoin ponzi scheme, was granted irregular access to a computer and the…
Turkey Detains 127 Crypto Ponzi Scheme Co-Conspirators, Seizes Assets Worth Over $31 Million
According to Turkish authorities, the country’s law enforcement agencies have disrupted a criminal syndicate that lured unsuspecting residents into investing in a Ponzi scheme disguised as a cryptocurrency investment. The…
Estonian Nationals Extradited to US for $575M Crypto Fraud
Two Estonian nationals have been extradited from Estonia to the U.S. to face charges for their roles in “a massive multi-faceted cryptocurrency Ponzi scheme,” according to an announcement by the…
Lawyer Pleads Guilty in $9.5M Crypto Ponzi Scheme — Faces 5 Years in Prison
David Kagel, a disbarred California attorney, pleaded guilty to orchestrating a cryptocurrency Ponzi scheme that defrauded victims of over $9.5 million. Kagel, 85, promised high returns through artificial intelligence trading…