AirBit Club execs plead guilty to fraud charges, face 20 years in prison
Victims saw the red flag in the operation of AirBit Club after all attempts to withdraw their funds failed, cementing their instinct that the firm was a Ponzi scheme.
Victims saw the red flag in the operation of AirBit Club after all attempts to withdraw their funds failed, cementing their instinct that the firm was a Ponzi scheme.
The U.S. securities regulator has obtained an asset freeze, appointed a receiver, and acquired other emergency relief against BKCoin and its founder Kevin Wang whom it accuses of fraud.
TD Bank Group stated that it had agreed to a “settlement in principle relating to litigation involving the Stanford Financial Group,” which sees them pay US$1.205B to the court-appointed receiver.
The founders paraded Forsage as a DeFi investment platform that could give lucrative returns on deposits and claimed that the project used smart contracts to streamline processes.
Jenner & Block attorney Shoba Pillay, the bankruptcy court-appointed examiner of the collapsed Celsius crypto lending platform, released a 689-page report into the history of the Celsius fraud.
Echoing BoE Governor Andrew Bailey, Irish central bank's Gabriel Makhlouf warns about the volatility of digital currencies and has called for a ban on advertisements tied to these assets.
The DOJ's filings indicate that the project's founders diverted the funds and began operating a "textbook Ponzi scheme by paying earlier Bitconnect investors with money from later investors."
As part of a lawsuit against him for promoting Voyager Digital, billionaire entrepreneur and Shark Tank personality Mark Cuban will be deposed in Dallas, Texas, on February 2.
The Hex token barely broke above 1 cent between its launch at the end of 2019 and mid-2021, but then surged to $0.51 in September 2021, but despite these, it has been on a downward price trend since.
3AC founders came out swinging against SBF's FTX and DCG's Barry Silbert, accusing the two of colluding to attack Terra and, by extension, 3AC, as well as engaging in a Ponzi scheme.
The SEC blacklisted PH-IGM, Gameloot, and Vertex Evo Trading, for breach of securities law and operating like a Ponzi scheme.
Karl Sebastian Greenwood served as OneCoin’s “global master distributor” and was the head of the multi-level marketing scheme, earning GBP20 million each month, according to court documents.