Name: SEC Charges 11 People in $300 Million Global Crypto Pyramid Fraud
Uploaded: 2022-08-03T22:55:03.000Z
Description: On Monday, the U.S. Securities and Exchange Commission (SEC) charged 11 individuals in a crypto pyramid and Ponzi scheme that raked in over $300 million from millions of global investors. At the center of the scheme is Forsage.io, a website that allowed retail investors to carry out transactions using smart contracts that operated on certain blockchains.

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On Monday, the U.S. Securities and Exchange Commission (SEC) charged 11 individuals in a crypto pyramid and Ponzi scheme that raked in over $300 million from millions of global investors. At the center of the scheme is Forsage.io, a website that allowed retail investors to carry out transactions using smart contracts that operated on certain blockchains.

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