Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»TRADING NEWS»SEC indicts 17 people in $300 million cryptocurrency Ponzi scheme
TRADING NEWS

SEC indicts 17 people in $300 million cryptocurrency Ponzi scheme

By Crypto FlexsMarch 15, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
SEC indicts 17 people in 0 million cryptocurrency Ponzi scheme
Share
Facebook Twitter LinkedIn Pinterest Email

The SEC has charged 17 individuals involved in a $300 million Ponzi scheme targeting primarily Latino investors through the so-called CryptoFX LLC.

The U.S. Securities and Exchange Commission (SEC) has charged 17 individuals for their involvement in a $300 million Ponzi scheme that targeted Latino investors in the United States and two other countries.

The scheme, detailed in a press release issued March 14, reportedly operated out of Houston, Texas, and offered “risk-free” and “guaranteed” financing to more than 40,000 investors across 10 states and two foreign countries. Cryptocurrencies promise significant wealth. And foreign exchange investment.

The SEC’s action follows a previous emergency intervention in September 2022 that halted CryptoFX’s operations and implicated key figures Mauricio Chavez and Giorgio Benvenuto.

According to the investigation, 17 individuals from Texas, California, Louisiana, Illinois, and Florida are accused of coordinating the CryptoFX network and luring investors with potential returns ranging from 15% to 100%. But the funds allegedly earmarked for trading were instead used “to pay commissions and bonuses to themselves and their investors and to fund their own lifestyles,” the SEC says.

The SEC charged the defendants with fraud, violations of regulations related to securities registration, broker registration, and whistleblower protections. Two of the defendants, Luis Serrano and Julio Taffinder, accepted final verdicts without admitting or denying guilt, the SEC said. They agreed to pay a total of more than $68,000 in fines, restitution and interest.

Follow us on Google News

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

How Algorand is quietly building the future of finance around the world

June 5, 2025

Lightchain AI rises to leading picks, and Litecoin is interested in legacy as interest is reduced.

June 5, 2025

Ripple Stablecoin RLUSD gets a green line to use in Dubai Difc.

June 4, 2025
Add A Comment

Comments are closed.

Recent Posts

Encryption leverage: 2025 trend and change analysis

June 6, 2025

Why DEGO Price tank 60%after moving USD1 Stablecoin

June 6, 2025

SEI Network opens up the way of autonomous AI economy.

June 6, 2025

SEI hit 621K wallet and $ 930m tvL, but two regions should pay attention.

June 6, 2025

Bitcoin Is An Unreplicable Lifeline In Authoritarian Regimes

June 6, 2025

COREWEAVE is a NVIDIA GB200 Super Chip that achieves recorded MLPERF benchmarks.

June 6, 2025

Bitcoin dives for less than $ 102K in fading momentum and macroscopic uncertainty.

June 6, 2025

Arca EXEC writes a scratch on Circle after IPO

June 6, 2025

The robot of 1x Technologies aims to revolutionize ordinary work with AI.

June 5, 2025

Trump is a magical Eden encryption wallet tie, Trump coin deep 13%

June 5, 2025

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Encryption leverage: 2025 trend and change analysis

June 6, 2025

Why DEGO Price tank 60%after moving USD1 Stablecoin

June 6, 2025

SEI Network opens up the way of autonomous AI economy.

June 6, 2025
Most Popular

SEC faces fierce battle against crypto’s legal firepower

May 22, 2024

Colombia’s president reportedly received $500,000 in illegal cryptocurrency donations for his 2022 campaign.

May 10, 2024

Precursor Revealed: Call of Taiko – A New Era of Neo Nakuza

June 10, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.