CFTC Charges Two Men Behind $44 Million Crypto Ponzi Scheme

cftc-charges-two-men-behind-$44-million-crypto-ponzi-scheme

The United States Commodity Futures Trading Commission (CFTC) has charged two U.S. residents and their entities for running a cryptocurrency investment scheme that defrauded over 170 investors. CFTC Charges Two Men for $44M Crypto Scam In an official press release, the CFTC alleged that the defendants, Sam Ikkurty and Ravishankar Avadhanam, had fraudulently solicited a … Read more

Crypto Trader Sentenced to 3.5 Years in Prison for $5 Million Fraud

crypto-trader-sentenced-to-3.5-years-in-prison-for-$5-million-fraud

The United States Department of Justice (DOJ) has sentenced a 25-year-old Rhode Island cryptocurrency trader, popularly known as Coin Signals, to 42 months in prison for defrauding over 170 people of more than $5 million. Coin Signals Trader Convicted According to an official press release, the convict, Jeremy Spence, had solicited funds from investors via … Read more

Five US States Issued Order to Stop a Fraudulent Russian Metaverse Project

five-us-states-issued-order-to-stop-a-fraudulent-russian-metaverse-project

Five US states announced plans to take immediate action against a Russian organization allegedly selling fraudulent NFTs to US investors for funding a metaverse casino called Flamingo Casino Club. The authorities required the entity to stop selling such digital assets, accusing it of committing fraud and selling unregistered securities. Fraudulent Claims Securities Regulators from Alabama, … Read more