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NJ couple charged with alleged $2 million Ponzi scheme https://t.co/akvlPnOPw5
The SEC accused the founder of PGI Global of orchestrating a $198 million unregistered crypto securities and foreign exchange fraud. Ramil Ventura Palafox allegedly misused investor funds on luxury goods, including Lamborghinis and designer brands. https://t.co/7htn1BqLQs
SEC charges PGI Global founder with $198 million crypto fraud involving Lamborghini purchases https://t.co/PofQd6Zdf0
The U.S. Securities and Exchange Commission (SEC) has charged Ramil Ventura Palafox, founder of PGI Global, with orchestrating a $198 million fraud scheme involving unregistered crypto securities and foreign exchange transactions. According to the SEC, Palafox misused investor funds to purchase luxury items, including Lamborghinis and designer brands, in a scheme described as having Ponzi-like payouts. Separately, a New Jersey couple has been charged in connection with an alleged $2 million Ponzi scheme, though details on that case remain limited.
