A U.S. district court entered a default judgment against an Australian citizen residing in the U.S. and a Nevada corporation for a cryptocurrency fraud and misappropriation scheme, the Commodity Futures Trading Commission said Thursday.
Fowler reportedly failed to pay his former lawyers leading to a motion to withdraw as his legal counsel.
The “clone” firm has been emailing and cold-calling investors and using the real company’s Firm Reference Number with a fake name, the regulator said.
Scams are a common occurrence in the crypto ecosystem. NFTs are no different.
A French national is accusing Modern Assets of failing to perform the necessary research before connecting him with a mysterious seller who made off with his cash and crypto.
The man solicited at least 22,190.542 bitcoin, valued at about $143 million at the time, from more than 1,000 customers worldwide.
Centra Tech co-founder has been sentenced to eight years for conducting an illegal initial coin offering (ICO) that fleeced investors for $25 million.
Roger Nils-Jones Karlsson, 45, communicated with his victims encouraging their investment in various fictitious schemes.
According to the indictment, Kristijan Krstic founded two digital-asset investment platforms that fraudulently induced investors to buy securities in the form of investment contracts.
The FMA reports two-thirds of the investment fraud reports filed in 2020 were related to cryptocurrency and digital currency trading products.
State regulation of crypto ATMs is poor and federal laws aren't much better, the commission said in a report.
The scheme allegedly included offering bitcoin at “half market price.”
The Bitcoiin2Gen trio allegedly bilked investors through false statements and celebrity crypto endorsements.
Jerry Guo represented himself to clients as an ICO consultant, then embezzled funds now worth over $20 million.
Stefan Qin, the 23-year-old founder of Virgil Capital, has been accused by the SEC of “fabricated records” for failing to redeem $3.5 million in investments and attempting to withdraw $1.7 million in investor funds to pay off Chinese loan sharks.