<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-charges-17-individuals-in-cryptofx-fraud-scheme/" data-wpel-link="internal">SEC Charges 17 Individuals in CryptoFX Fraud Scheme</a><br></p>
<p style="text-align: justify">We know that <strong>crypto</strong> scammers are set to continue preying on new investors this bull season. This has been the case in the past, and the US <a href="https://en.coin-turk.com/blast-project-a-rising-star-in-the-layer-2-space-with-potential-airdrops/" data-wpel-link="internal">SEC</a> is working, albeit belatedly, to punish the culprits. Today’s announcement shows that the defendants continued to defraud people even as the charges persisted.</p> 
<h2 style="text-align: justify" id="sec-and-crypto-fraud">SEC and Crypto Fraud</h2> 
<p style="text-align: justify">The Securities and Exchange Commission today charged 17 individuals related to the CryptoFX fraud. Scammers targeting over 40,000 investors, predominantly of Latin origin, from the US and two other countries, caused a total loss of 300 million dollars. SEC’s Enforcement Division Director Gurbir S. Grewal stated;</p> 
<blockquote> 
 <p>“We allege that CryptoFX was a $300 million Ponzi scheme, targeting Latin investors with promises of ‘risk-free’ and ‘guaranteed’ crypto and foreign exchange investments, offering financial freedom and life-changing wealth. In the end, the only guarantee CryptoFX left was a trail of thousands of victims spread across 10 states and two foreign countries. A fraud of this magnitude requires many participants, and as today’s action shows, we are moving to sanction not only the architects of these vast schemes but also those who illegally trap victims.”</p> 
</blockquote> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-327677 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/SEC-kripto-dava-14-mart.png" alt="" width="1215" height="400"></p> 
<p style="text-align: justify"><strong>SEC</strong>‘s complaint alleges that CryptoFX claimed to conduct crypto asset and foreign exchange market transactions for investors, but in reality, it was a Ponzi scheme.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/sec-charges-17-individuals-in-cryptofx-fraud-scheme/" data-wpel-link="internal">SEC Charges 17 Individuals in CryptoFX Fraud Scheme</a></h5>

SEC Charges 17 Individuals in CryptoFX Fraud Scheme

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