Beleaguered crypto lender Celsius Network operated as a classic “Ponzi scheme,” the former head of the company’s key investment strategy alleged in a lawsuit, claiming the company used customer deposits to cover huge liabilities caused by reckless mismanagement. Jason Stone, whose company KeyFi partnered with Celsius to run its decentralized […]
Scheme
Owner of Technology Companies Arrested for Alleged $45 Million Investment Fraud Scheme Involving Over 10,000 Victims | OPA
A Nevada man was arrested today in Los Angeles for an alleged investment fraud scheme that defrauded more than 10,000 victims of over $45 million. A federal grand jury in the District of Nebraska previously returned an indictment on June 14 charging the man, which was unsealed today in Omaha. […]
FTC Shuts Down Credit Repair Pyramid Scheme Financial Education Services, Which Bilked More Than $213 Million from Consumers
The Federal Trade Commission has taken action against Financial Education Services and its owners, Parimal Naik, Michael Toloff, Christopher Toloff and Gerald Thompson, as well as a number of related companies, for scamming consumers out of more than $213 million. In response to a complaint filed by the FTC, a […]
Two company directors on trial for cheating 2,000 investors in forex trading pyramid scheme
SINGAPORE: Two company directors accused of cheating more than 2,000 investors in a fraudulent foreign exchange trading pyramid scheme from 2014 to 2015 went on trial at the State Courts on Monday (Mar 28). Malaysians Leong Koon Wah and Ng Kuan Chuan face a total of eight charges under the […]
Serial Fraudster Extradited to the United States from Mexico to Face Investment Fraud Scheme Charges in North Carolina and Texas | OPA
A California man made his initial appearance in federal court in Charlotte, North Carolina, today after being extradited from Mexico to face charges related to his involvement in two high-yield investment fraud schemes. According to court documents, Daniel Thomas Broyles Sr., aka Dan Thomas, 64, of Malibu, is charged in […]