Cryptocurrency fraud scheme busted by US securities agency
Technology | The Guardian
The Forsage pyramid scheme cheated investors out of $300m worldwide over more than two years
US authorities have busted a huge cryptocurrency pyramid scheme, charging 11 people for their role in defrauding retail investors for more than $300m worldwide.
The US Securities and Exchange Commission (SEC) announced the charges Monday, which relate to a Ponzi scheme called Forsage that had operated for more than two years. The agency charged the alleged founders of the pyramid scheme as well as several promoters.
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