Ponzi Scheme News

Chinese journalist Colin Wu released an investigation into PlusToken, one of the largest cryptocurrency Ponzi schemes in history. According to the journalist, the Chinese authorities have confiscated a large number of digital assets. The PlusToken team, led by a middle…

A federal court has ordered Jafia LLC and its owner, Sam Ikkurty, to pay nearly $84 million to crypto investors after ruling that the firm operated a Ponzi-like scheme.  The judgment, issued by Judge Mary Rowland in the US District…

U.S. authorities continue searching for OneCoin’s elusive founder, Ruja Ignatova, also known as “Cryptoqueen,” over a $4 billion Ponzi scheme. 

The Enforcement Directorate (ED) of India has frozen approximately ₹32 crore ($3,830,032) in cash deposits and other assets linked to the Highrich online group. The group is under investigation for allegedly operating a crypto Ponzi scheme.

David Kagel has pled guilty to conspiring to operate a crypto Ponzi scheme that defrauded victims of more than $9.5 million. Disbarred 85-year old former attorney Kagel confessed to participating in a fraudulent crypto Ponzi scheme in which he and…

John Bigatton, a former promoter of the notorious BitConnect scheme, has pleaded guilty to criminal charges

Canada’s self-named ‘crypto king’ has been has been charged with $30 million fraud. According to a May 15 announcement from the Ontario Securities Commission, Two Canadian men, namely Aiden Pleterski, 25, and Colin Murphy, 27, have been charged for duping…

The FBI has uncovered a multi-year Ponzi scheme defrauding investors of $43 million, linked to crypto trading, with an individual now facing wire fraud charges. A Manhattan resident, Idin Dalpour, is accused by the FBI of orchestrating a multi-million-dollar Ponzi…

Social media influencer Jabara Igbara, commonly known as Jay Mazini, was sentenced to seven years in prison for stealing over $8 million from Muslims via a crypto fraud scheme.

United States District Judge Edgardo Ramos has sentenced Irina Dilkinska, the ex-head of legal and compliance for the notorious OneCoin Ponzi scheme, to four years in prison. On April 3, the U.S. Attorney’s office announced the sentencing that follows Dilkinska’s…

Explore the Bitcoin Ponzi scheme debate. Check the criticisms, Ponzi explanation, and why Bitcoin isn't one.

A New York District Court jury convicted two men associated with IcomTech, a company that presented itself as specializing in cryptocurrency mining and trading, of wire fraud conspiracy. The individuals, David Brend and Gustavo Rodriguez, now potentially face up to…

The SEC has charged 17 individuals for their involvement in a $300 million Ponzi scheme targeting predominantly Latino investors through the so-called CryptoFX LLC. The U.S. Securities and Exchange Commission (SEC) has brought charges against 17 individuals implicated in a…

Mark Scott, a lawyer for the OneCoin cryptocurrency pyramid, was found guilty of two criminal charges. Both are related to bank fraud and money laundering. The U.S. District Court sentenced Mark Scott to 10 years in prison. He is accused…

The scathing attack from John Reed Stark echoes similar sentiments made by Better Markets CEO Dennis Kelleher, who implored the SEC to reject spot Bitcoin ETF applications.

Tether has blocked six new wallets on the Ethereum network, likely due to being linked to the Russia Finiko ponzi scheme.