Ponzi scheme Archives

Head trader of alleged Ponzi scheme in US pleads guilty to securities fraud

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13 September, 2022

Head trader of alleged Ponzi scheme in US pleads guilty to securities fraud

A Florida man faces a five-year jail term for scamming investors over $100 million through a sham platform he operated...

Crypto Policy Symposium 2022 Day 1 bursts the ‘crypto’ bubble

Events

Jordan Atkins

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7 September, 2022

Crypto Policy Symposium 2022 Day 1 bursts the ‘crypto’ bubble

Instead of filling the conference hall with those who want to get rich quick, the symposium assembled policymakers, academics, journalists,...

Celsius wants to return $50M of customer funds, but there’s a catch

Business

Steve Kaaru

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5 September, 2022

Celsius wants to return $50M of customer funds, but there’s a catch

Celsius wants to only return funds to customers who hold assets in Custody and Withhold accounts, leaving out anyone who...

OneCoin founder accomplice extradited to US to face fraud case

Business

Steve Kaaru

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4 September, 2022

OneCoin founder accomplice extradited to US to face fraud case

Christopher Hamilton attempted to delay the extradition to the United States, claiming that his crimes happened mostly in Britain—but the...

Celsius countersues ex-manager who called lender a ‘Ponzi scheme’

Business

Steve Kaaru

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26 August, 2022

Celsius countersues ex-manager who called lender a ‘Ponzi scheme’

KeyFi founder Jason Stone, who managed billions for Celsius, sued the lender over reckless risking of customer funds, but Celsius...

Argentina: Presidential aspirant sued over digital asset Ponzi scheme promotion

Business

Wahid Pessarlay

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25 August, 2022

Argentina: Presidential aspirant sued over digital asset Ponzi scheme promotion

Javier Milei's presidential candidacy is marred by controversy over his involvement in an alleged Ponzi scheme that investors say cost...

BitConnect co-founder wanted in India, faces mega scam probe anew

Business

Wahid Pessarlay

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22 August, 2022

BitConnect co-founder wanted in India, faces mega scam probe anew

Satish Kumbhani, co-founder of BitConnect, plunged into deeper trouble as Indian police put him under investigation over a $2.4 billion...

CFTC charges Ohio man who allegedly solicited $12M in BTC investment scam

Business

Steve Kaaru

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15 August, 2022

CFTC charges Ohio man who allegedly solicited $12M in BTC investment scam

Rathnakishore Giri posed as an expert trader and lured over 150 investors to commit fiat and BTC, then used the...

The entire space still needs to take a bath

Editorial

Joshua Henslee

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10 August, 2022

The entire space still needs to take a bath

The assertion here is that the entire digital currency space needs a further washing out before any serious business using...

SEC calls Forsage a ‘fraudulent crypto pyramid and Ponzi scheme’

Business

Steven Stradbrooke

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2 August, 2022

SEC calls Forsage a ‘fraudulent crypto pyramid and Ponzi scheme’

U.S. securities regulators have charged 11 individuals for creating and promoting the “fraudulent crypto pyramid and Ponzi scheme” that is...

Axie Infinity left thousands of Filipino players in debt, and now they are leaving the game

Business

Steve Kaaru

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1 August, 2022

Axie Infinity left thousands of Filipino players in debt, and now they are leaving the game

The game rose to fame after it was billed as a way out of poverty and racked up its biggest...

Editorial

Joshua Henslee

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28 July, 2022

The allure of Ponzi scheming

When someone promises to build a new innovative business which takes more effort? Fundraise via a token or NFT sale...

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