Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
Home»ETHEREUM NEWS»SEC sues encryption management for $ 115 million in systems.
ETHEREUM NEWS

SEC sues encryption management for $ 115 million in systems.

By Crypto FlexsApril 23, 20253 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
SEC sues encryption management for $ 115 million in systems.
Share
Facebook Twitter LinkedIn Pinterest Email

simply

  • The SEC accused the PGI Global CEO for a $ 1.98 million encryption Ponzi system.
  • Investors have sold unregistered securities disguised as an AI trading package.
  • Paul Atkins, the first encryption measure of the Case Mark sec.

On Tuesday, the US Securities and Exchange Commission officially accused investors five years ago as a PGI global CEO, Ramil Palafox, five years ago as a false promise to AI -centered transactions and guaranteed profits five years ago.

More than $ 57 million in Fiat and Bitcoin was misused for Pala Fox’s personal use and to benefit his close colleagues. name.

The case of Palafox submitted to the US District Court in Eastern Virginia is the SEC’s first Crypto -related action. oath Early one day.

Palafox seems to have clocked on Crypto Industry Buzzwords with short -unregistered securities sales of PGI Global and Praetorian Group International. complaint.

From January 2020 to October 2021, Palafox sold a “membership package” that guarantees up to 200%of profits through AI -centered passwords and foreign exchange platforms.

Cryptocurrency companies, officially known as the PGI Global UK LTD, were closed in September 2022 to operate the fraudulent investment system by the UK High Court.

Between July 2020 and February 2021, PGI Global collected about £ 612,425 (US $ 815,000) from investors.

But when the promised revenue was not realized, investors could not withdraw their funds.

Palafox, headquartered in the United States, did not cooperate with this investigation. The US Department of Justice and the US Treasury seized the company’s website after the US District Court in Eastern Virginia issued a warrant.

“PGI Global didn’t have a ‘auto transaction’ platform, and there was almost no transaction of any kind of transactions on behalf of investors.

Instead, the investor fund was used to maintain a payment system such as Ponzi and to finance the luxury lifestyle of Palafox, which includes Ras Vegas’s $ 1.7 million, several Lamborghini and $ 11.8 million in jewelry.

This complaint briefly explains how Palafox falsifies encryption activities, manipulates dashboards, shows false profits and protects investors.

In his statement, Laura D “Allaird, the Cyber ​​vice president of SEC, said,” His misconduct of the cryptocurrency industry expertise and AI -based automatic trading platform was to cover international securities fraud. “

The SEC also claimed that the asset was transferred in anticipation of the collapse of the Palafox Guy system.

This complaint nominates four relief defendants, including Palafox’s wife, mother, and daughter -in -law, and finds the return of assets and funds such as $ 320,000 mortgage compensation, Range Rover and Louis Vuitton and Hermès.

The agency also asks the court to impose a permanent ban on the participation of Palafox’s encryption or MLM -related securities and a permanent ban on civil punishment and funds of funds.

Edited by SEBASTIAN SINCLAIR

Daily brief newsletter

Start every day with the best news articles, original features, podcasts, and videos.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

BitDigital becomes the first public Etherrium for distributing unsecured leverage -details -Details

October 6, 2025

Ethereum Future is an execution of stablecoins and tokenized assets -then you need to know:

October 2, 2025

Ether Lee’s fusaka upgrade promises 60 million gas limit boosts.

September 28, 2025
Add A Comment

Comments are closed.

Recent Posts

BC.GAME News Backs Deccan Gladiators As Title Sponsor In 2025 Abu Dhabi T10 League

October 6, 2025

Unity modifies mobile games and password wallets that threaten important vulnerability.

October 6, 2025

BitDigital becomes the first public Etherrium for distributing unsecured leverage -details -Details

October 6, 2025

Cango Inc. Announces September 2025 Bitcoin Production And Mining Operations Update

October 6, 2025

Cake Eyes 60% Rally Pancake WAP

October 5, 2025

Bitcoin Pullback — ETFs Drive Capital Flows, Altcoins Like SOL And XRP Boost Investor Returns

October 5, 2025

SHIBA INU (SHIB) and Dogecoin (DOGE) holders are 16,736%of Rally Progast Tempts buyers that are accumulated as Little PEPE (Lilpepe).

October 5, 2025

Solana Future Surge as the institution induces the open interest for the best record.

October 4, 2025

Free bitcoin.in app withdrawal request My satoshi

October 3, 2025

If this happens, you can see a huge price of $ 1.9.

October 3, 2025

Lombard Liquid Bitcoin Summary Summary

October 3, 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

BC.GAME News Backs Deccan Gladiators As Title Sponsor In 2025 Abu Dhabi T10 League

October 6, 2025

Unity modifies mobile games and password wallets that threaten important vulnerability.

October 6, 2025

BitDigital becomes the first public Etherrium for distributing unsecured leverage -details -Details

October 6, 2025
Most Popular

Bitcoin enters uncharted territory with first-ever golden cross

January 9, 2024

Bitfinex Alpha | While the market is waiting for the catalyst, BTC is integrated and leverage falls.

August 4, 2025

Telegram game ‘Notcoin’ plans to remove inactive accounts every day ahead of token airdrop

March 1, 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.