The SEC announced the charges against Aron Govil of Jacksonville, Florida, who is accused of defrauding investors in his two companies—Telidyne Inc. and Cemtrex Inc.
T-Mobile failed in its duty to protect its users and resulted in the plaintiff’s loss of $55,000 worth of BTC, according to the lawsuit filed in Pennsylvania.
Oz Project claimed to guarantee users that they would get 100% of the principal they put in as well as “2.5 returns on their investment in four months,” according to local media reports.
Africrypt was a digital currency investment company targeting the rich and celebrities, until founders Raees and Ameer Cajee claimed earlier this year to be hacked and lost all the investors’ money.
The regulator charged six promoters in May, and as per a new report, it’s set to settle with four of these, with penalties ranging from $526,000 to $3 million.
The two raised $1.9 million by selling over 600 million native tokens, all while issuing false statements, presenting fake profitability statements and making unattainable promises to the investors, authorities said.
Claudio Oliveira was the president of the Bitcoin Banco Group, a Brazilian digital currency brokerage company that reportedly lost over 7,000 BTC following an alleged hack in 2019.
Mirror Trading International grabbed headlines after it allegedly scammed 280,000 investors by posing as a multi-level marketing scheme, promising get-rich-quick returns for the investors.
The Financial Services Conduct Authority is seeking to categorize digital currencies as a financial product, giving it jurisdiction over the industry and allow it to protect investors.
Africrypt targeted high-net worth individuals and celebrities, promising them ludicrous returns, according to reports in South Africa.
South African investors are still in shock after a digital currency scam reportedly made off with R54 billion ($3.8 billion) and blamed it on a hack.