The U.S. Securities and Exchange Commission (SEC) has charged brothers Jonathan and Tanner Adam with orchestrating a $60 million Ponzi scheme involving a fraudulent crypto asset trading platform. The brothers allegedly deceived over 80 investors by promising high returns through a non-existent trading bot, claiming it could generate 13.5% monthly gains. Instead, they reportedly spent $53.9 million of the funds on luxury items, including cars and a $30 million penthouse. The SEC has frozen the assets of the Adams and their entities, GCZ Global LLC and Triten Financial Group LLC, as part of the legal proceedings.