SEC Charges ‘Fraudsters’ in $300 Million ‘Crypto Pyramid and Ponzi Scheme’

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The Securities and Exchange Commission has charged 11 people for their roles in what the agency is calling a “fraudulent crypto pyramid and Ponzi scheme.” Forsage allegedly raised more than $300 million from retail investors in an illicit way, in countries across the globe including the United States, according to an SEC statement released Monday. The agency charged the organization’s four founders and a series of people with promoting the nine-figure scheme. “Fraudsters cannot ci ...

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