
Former California Attorney Sentenced to 5 Years Probation, Ordered to Pay $14M for Role in Crypto Ponzi Scheme
David Kagel, 86, a former California lawyer, was sentenced for defrauding investors in a crypto scam.
David Kagel, 86, a former California lawyer, was sentenced for defrauding investors in a crypto scam.
Given the severity of the alleged crimes, the SEC is seeking permanent injunctions, the disgorgement of ill-gotten gains with prejudgment interest, and civil penalties against the Adam brothers.
The Blast mainnet is now live, allowing over 180,000 users to unlock about $2.3 billion worth of funds, which attracted $85m in annual yield.
As per the SEC, Chunga individually accumulated approximately $3.7 million from investors’ funds, spending it on personal luxuries like a BMW, designer clothing, and a $1.2 million residence in Maryland.
The SEC has filed a complaint with a Texas court regarding the alleged facilitators of a crypto Ponzi scheme.
The California DFPI says its targets are crypto firms that misappropriated customers’ funds and also misrepresented their services.
Scammers are known to pose as imposters and make very believable cases in front of their victims.
According to local media, investors are holding Milei personally responsible for their losses.
The US SEC notes that Forsage was running a standard pyramid scheme and earned profits by recruiting others.
The PlusToken Ponzi scheme is reported to have begun back in May 2018 and advertised a non-existent crypto arbitrage trading platform.
O’Leary’s statement about Bitcoin being a Ponzi scheme follows a fake interview about the coin between Ryan Tubridy and Ryanair CEO on The Late Late Show.
Hardware wallet startup NGRAVE embodies the entrepreneurial crypto journey. It incorporated a series of major technological breakthroughs into an all-in-one custody solution.
Ethereum-based games developed by a group called Team JUST turned out to be Ponzi scams serving as an experiment to gauge how far greed can drive people.