Tagged: ponzi scheme

March 29, 2026 @ 2:31 pm By Omar Faridi  |  

Earlier this month, the web3 and crypto sector has suffered another setback with the Chapter 11 bankruptcy filing of Goliath Ventures, a Florida-based firm previously known as Gen-Z Venture Firm. Its founder and former CEO, Christopher Delgado, was arrested by federal authorities on charges of… Read More

April 19, 2025 @ 10:50 pm By Omar Faridi  |  

A Brazilian court has reportedly sentenced Joel Ferreira de Souza, the lead launderer behind the Braiscompany cryptocurrency Ponzi scheme, to an unprecedented 128 years, 5 months, and 28 days in prison—one of the longest sentences for financial crimes in Brazil’s history. Alongside de Souza, two… Read More

April 10, 2025 @ 8:07 am By Omar Faridi  |  

Chainalysis partnered with the Spanish National Police in Operation Bonanza to dismantle an international Ponzi scheme that defrauded over 50,000 victims worldwide. This operation, which reportedly amassed more than $500 million in cryptocurrency, underscores the importance of technology and public-private collaboration in combating illicit financial… Read More

August 18, 2021 @ 3:35 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) has filed an emergency action and obtained a temporary restraining order, an asset freeze, and the appointment of a receiver to stop an alleged Ponzi scheme and misappropriation of investor proceeds perpetrated by Coral Springs, Florida resident Johanna M…. Read More

August 1, 2020 @ 10:22 pm By Omar Faridi  |  

Authorities in China have reportedly arrested 27 suspects who are allegedly responsible for conducting one of the largest cryptocurrency related scams, which is now well-known as the Plus Token Ponzi scheme. The arrests were made following extensive investigations by local agencies including China’s Ministry of… Read More

May 3, 2020 @ 11:54 pm By Omar Faridi  |  

Judge Valerie Caproni has lifted the stay on a lawsuit filed against OneCoin, one of the largest cryptocurrency Ponzi schemes. An order recently signed by the New York District judge requires all concerned parties to provide a schedule, which will request the defendants to submit… Read More

April 12, 2020 @ 6:07 pm By Omar Faridi  |  

In February 2018, US prosecutors had indicted Karl Sebastian Greenwood, who allegedly promoted the fraudulent OneCoin digital currency scheme. OneCoin was one of the largest cryptocurrency pyramid schemes. As noted in a recently unsealed complaint, Greenwood was charged with committing wire fraud, securities fraud and… Read More

May 16, 2016 @ 10:13 am By Erin Hobey  |  

As Chinese authorities continue their hunt for unregulated online lending and investment firms, more fraudulent fintech platforms are bound to be nabbed for unseemly and illegal behavior.  Today Bloomberg News reported the latest Ponzi scheme that separated 39.9 billion yuan ($6.1 billion) from 25,000 investors. Crowdfund… Read More

February 1, 2016 @ 11:21 am By JD Alois  |  

As reported in December, the Chinese peer to peer lender Ezubao (Ezubo), launched by Yucheng in 2014,  was shuttered by authorities as employees were questioned and managers were arrested by police.  Now Xinhua and other news outlets are providing details that are shaking up the… Read More