News
Federal prosecutors in Seattle are looking to win forfeiture of millions worth of crypto tied to an investment scheme in the hope of distributing it to victims.
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Ponzi Scheme News
What is a Ponzi scheme? An illegal endeavor, Ponzi schemes essentially aim to attract and take advantage of unsuspecting investors by touting untrue claims of low risk and significant reward. Ponzi schemes typically stay afloat by using money from newer participants to pay older ones, thus making the endeavor seem profitable — so long as new participants continue flowing in.
The endeavor is named after Charles Ponzi, an Italian con artist who performed such a scheme in the 1920s in the United States, costing his investors about $20 million. Ponzi’s scam wasn’t the first of its kind, although it was one of the largest. Ponzi schemes share some commonalities with pyramid schemes, and neither of the two is legal in the United States. Bitcoin (BTC) has been called a Ponzi scheme at times over the years, although its performance and structure have proven otherwise.
- News
Former rugby player Shane Donovan Moore was sentenced to 2.5 years in US federal prison for running a $900,000 crypto mining Ponzi scheme.
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Pig butchering scams are the biggest threat for retail crypto investors and crypto platforms in 2025, according to Cyvers.
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Brent Kovar allegedly attracted investors to the Ponzi scheme through a YouTube video and PowerPoint presentation, promising annual returns of 15% to 30%.
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Critics call it heedless; supporters say it’s brilliant. Either way, Michael Saylor continues doubling down on Bitcoin.
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The CFTC accused a pastor of promoting a crypto scheme to churchgoers promising guaranteed returns of nearly 35%.
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Gustavo Rodriguez, who was initially scheduled to be sentenced following his conviction for conspiracy to commit wire fraud, will testify under oath on Oct. 28.
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According to US prosecutors, Juan Tacuri, and his co-conspirators, defrauded investors of $8.4 million in an apparent Ponzi Scheme.
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Prosecutors sought five years probation for crypto schemer David Kagel because of his age and ailing health.
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David Carmona was the “mastermind” behind IcomTech’s “Ponzi scheme," which netted an estimated $8.4 million from victims.
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Montenegrin police arrested FutureNet co-founder Roman Ziemian, alleging he was living under a false identity in the country’s capital city.
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After over three years of inactivity, cryptocurrency wallets linked to the Plus Token Ponzi scheme have moved $2 billion in ETH, potentially impacting the market.
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An Illinois judge has sided with the Commodity Futures Trading Commission in a crypto fraud case, labeling two altcoins, OHM and KLIMA, as commodities.
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Part of the plea deal involved Juan Tacuri forfeiting nearly $4 million and real estate which were purchased with victim funds.
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Rashawn Russell, a former Deutsche Bank executive, also intended to commit fraud with stolen bank cards.
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