South African Regulator Seeks More Crypto Powers After Alleged Ponzi Schemer’s Collapse
“At the point something becomes a Ponzi scheme, we have lost our jurisdiction,” a regulator told Bloomberg.
The SEC has filed charges against five promoters of the alleged crypto fraud. It's a chance to learn from the mistakes of Trevon James and Co.
Bitconnect collapsed in 2018 after state regulators in Texas and North Carolina filed cease-and-desist letters against its lending and exchange platform.
Finiko was labeled as a Ponzi scheme by the Bank of Russia but still attracted millions in investment.
A U.S. district court entered a default judgment against an Australian citizen residing in the U.S. and a Nevada corporation for a cryptocurrency fraud and misappropriation scheme, the Commodity Futures Trading Commission said Thursday.
Shawn Cutting allegedly claimed to be an experienced financial adviser to raise funds from over 450 investors.