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A Utah man has been federally indicted for allegedly running a Ponzi scheme that defrauded 75 investors out of approximately $5 million. Concurrently, federal law enforcement in Chicago has indicted seven individuals involved in a separate 'pump-and-dump' investment fraud scheme, which resulted in the seizure of more than $214 million in ill-gotten gains. These individuals, based in Malaysia and Taiwan, are accused of posing as U.S.-based investment advisers and artificially inflating the stock price of a company that claimed to provide educational services in China. The investigation highlights the ongoing efforts by federal prosecutors to combat investment fraud schemes targeting investors both domestically and internationally.
An investigation into an alleged “pump-and-dump” investment fraud scheme has resulted in the indictment of seven people and the seizure of more than $214 million by federal law enforcement in Chicago. https://t.co/bKKU3iwCLW
A fake trading platform just got wrecked! 💰💥 A federal court has ordered $2.3M in restitution after Debiex scammed investors with bogus trading accounts. No real trades—just a straight-up fraud. The CFTC shut them down and even recovered stolen crypto from a money mule’s
Federal prosecutors charged foreign nationals over a "pump and dump" scheme in which they allegedly posed as U.S.-based investment advisers online and artificially raised the stock price of a company purporting to provide educational services in China. https://t.co/9HHfm3h4np
