Cryptocurrency News

SEC charges 11 individuals over $300M crypto ‘pyramid scheme’

08/02/2022

Less than a minute

2022.08.02 09:45

SEC charges 11 individuals over $300M crypto ‘pyramid scheme’

The Securities and Exchange Commission (SEC) has charged 11 individuals for their alleged role in the creation of a “fraudulent crypto pyramid scheme” platform Forsage.

The charges were laid in a United States District Court in Illinois on August 1, with the SEC alleging that the founders and promoters of the platform used the “fraudulent crypto pyramid and Ponzi scheme” to raise more than $300 million from “millions of retail investors worldwide.”

08/02/2022

Less than a minute

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