🕵️♂️ SEC reveals $60 million crypto scam, Georgia brothers' Ponzi empire collapses!
🏛️ The U.S. Securities and Exchange Commission (SEC) recently filed a lawsuit against a pair of Georgia brothers, accusing them of a $60 million cryptocurrency Ponzi scheme!
📅 On August 26, the SEC submitted the case to the court. It is said that the two brothers Jonathan and Tanner Adam deceived more than 80 people. They boasted that they had a super profitable crypto robot and promised to bring investors a 13.5% return every month. Does it sound tempting? But it's all lies!
🗣️ They told investors that this robot could find arbitrage opportunities on different platforms, provide funds for flash loans and execute transactions. But in fact, this so-called robot does not exist at all! The two brothers used $53.9 million of the $61.5 million raised to live a luxurious life, including buying luxury cars and luxury houses.
⚖️ The SEC has urgently frozen their assets and charged them with violating federal securities laws. The SEC requires them to return all investors' funds and face civil penalties.
🔍 Moreover, Jonathan has been convicted three times for securities fraud before, but he concealed all this from investors. Now, both of them refuse to respond to the SEC's subpoena.
📉 Although the amount of cryptocurrency flowing to fraudulent addresses has declined in 2023, Ponzi schemes are still a big problem. The SEC recently charged another company called NovaTech Ltd., which also used similar methods to defraud more than 200,000 people.
👀 Finally, everyone must be careful when investing in cryptocurrency, and don't be blinded by the promises of these high-return projects. Remember to do your homework before investing, and don't let your hard-earned money fall into the pockets of scammers!
