News with the tag "Pyramid Scheme"

Chinese authorities revealed they extradited the suspect of a “mega economic crime” with the help of Thai law enforcement. The man is alleged to be the mastermind behind a $14 billion pyramid scheme involving cryptocurrencies, which makes his extradition the first related to economic crimes between ...

As digital currencies continue to gain popularity worldwide, the risk of related economic crimes also increases.

Montenegrin police arrested FutureNet co-founder Roman Ziemian, alleging he was living under a false identity in the country’s capital city.

The U.S. Securities and Exchange Commission (SEC) filed suit against an alleged crypto pyramid scheme, NovaTech, and eight of its promoters on Monday, charging them with fraud and multiple violations of federal securities laws.

The Attorney General of New York is suing two crypto firms for their alleged role in a $1 billion pyramid scheme. In a new press release, New York AG Letitia James announces a lawsuit against crypto exchange NovaTech and crypto mining company AWS Mining for allegedly defrauding hundreds of thousands...

New York AG Letitia James has sued crypto firms NovaTechFx and AWS Mining for allegedly defrauding over 11,000 individuals out of more than $1 billion in a pyramid scheme. New York Attorney General (NYAG) Letitia James filed a lawsuit on…

South African prosecutors are reportedly investigating co-conspirators of Mirror Trading International and may charge them with fraud or forgery. The declaration of the scheme as unlawful may have strengthened the National Prosecuting Authority’s case against the masterminds of Mirror Trading Intern...

The Bank of Russia reported that the number of pyramid schemes and illegal lending providers in Russia rose to over 5,700 in 2023, an increase of 15.5% over the number detected in 2022. Specifically, the number of pyramid schemes detected increased by 46%, relying on the Internet and cryptocurrency ...

The U.S. Securities and Exchange Commission (SEC) accuses the founders of the HyperFund crypto project of running a fraud operation that took more than one million form unwitting investors. Information about this appeared on the regulator’s website. According to the…

Mark Scott, a lawyer for the OneCoin cryptocurrency pyramid, was found guilty of two criminal charges. Both are related to bank fraud and money laundering. The U.S. District Court sentenced Mark Scott to 10 years in prison. He is accused…