Austin investment fund a Ponzi scheme 'from the very beginning,' report alleges

PGI Global Founder Hit With Fraud Charges in Alleged $200M Crypto Ponzi Scheme

According to the SEC, Ramil Palafox misappropriated more than $57 million in customer funds, using it to buy Lamborghinis and luxury products.

Austin investment fund a Ponzi scheme 'from the very beginning,' report alleges

CCG Capital Group’s real estate-focused Pride of Austin High Yield Fund I LLC was placed into a receivership in May 2024 after allegedly misrepresenting the total capital of one of its investment funds by tens of millions of dollars. Now, a forensic report prepared by the receiver alleges that the “Ponzi scheme started from the very beginning.”

Recession may reveal wave of Ponzi schemes

As the odds of a downturn climb, one expert warns that it may result in the uncovering of so-far undetected Ponzi schemes and other frauds.

SEC charges Ramil Palafox in $198M crypto Ponzi case

SEC says $57 million spent on luxury goods and homes. Iranian national indicted for operating dark web market Nemesis. Over 400,000 orders processed using only cryptocurrency. The US Securities and Exchange Commission (SEC) has filed charges against Ramil Palafox, a dual citizen of the United States and the Philippines, accusing him of orchestrating a $198 […] The post SEC charges Ramil Palafox in $198M crypto Ponzi case appeared first on CoinJo…

90,000 Duped in $200M Crypto Scam, PGI Global CEO Charged

The US Securities and Exchange Commission (SEC) has filed charges against Ramil Palafox, accusing him of running a large-scale investment scam that promised profits through Bitcoin BTC and foreign exchange trading.

SEC and feds charge man over $200M crypto trading scheme - WorldNL Magazine

The US Securities and Exchange Commission and federal prosecutors have charged a man they allege created a crypto scheme that swindled 90,000 people out of $200 million in the hopes of earning returns from Bitcoin and forex trading.The SEC said on April 22 that it had charged Ramil Palafox, a dual citizen of the US and the Philippines, claiming he misappropriated over $57 million in investor funds gained through his company, PGI Global, between …