The Securities and Exchange Commission (SEC) bought charges against five members of a crypto Ponzi scheme – Trade Coin Club that defrauded over 100,000 investors worldwide of 82,000BTC, valued at $295 million at the time, according to a Nov. 4 SEC press release.
The Trade Coin Club is a crypto pyramid scheme posed as a multi-level marketing program that operated from 2016 to 2018 and promised profits from a non-existent crypto asset trading bot.
At press time the value of the stolen Bitcoin comes to roughly $1.7 billion which ranks it as one of the biggest Ponzi schemes of all time.
Among the prosecuted include, Douver Torres Braga who created and managed Trade Coin Club, and profited at least $55 million in bitcoin, along with promoters of the scheme, Joff Paradise, Keleionalani Akana Taylor, and Jonathan Tereault, who received $1.4 million, $2.6 million, and $625,000, respectively.
Crypto Ponzi scheme
According to the SEC, the Trade Coin Club tricked investors into thinking that
We współpracy z: https://cryptoslate.com/sec-charges-members-of-trade-coin-club-for-operating-82k-btc-crypto-ponzi-scheme/
