{"id":16435,"date":"2024-08-27T16:12:28","date_gmt":"2024-08-27T13:12:28","guid":{"rendered":"https:\/\/forklog.com\/en\/sec-charges-creators-of-60-million-bitcoin-scheme\/"},"modified":"2024-08-27T16:12:28","modified_gmt":"2024-08-27T13:12:28","slug":"sec-charges-creators-of-60-million-bitcoin-scheme","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-charges-creators-of-60-million-bitcoin-scheme\/","title":{"rendered":"SEC Charges Creators of $60 Million Bitcoin Scheme"},"content":{"rendered":"<p>Two U.S. citizens have been charged with defrauding over 80 investors through a cryptocurrency pyramid scheme that resulted in $60 million in damages, as <a href=\"https:\/\/www.sec.gov\/newsroom\/press-releases\/2024-107?utm_medium=email&#038;utm_source=govdelivery\">reported<\/a> by the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>. <\/p>\n<p>According to the case documents, from January 2023 to June 2024, brothers Jonathan and Tanner Adam promoted a bot service with arbitrage trading capabilities, promising clients monthly returns of up to 13.5%.<\/p>\n<p>The funds raised were used by the brothers for personal expenses. Tanner constructed a $30 million condominium in Miami, while Jonathan purchased vehicles worth at least $480,000. The latter had previously been convicted on three counts of securities fraud.<\/p>\n<p>The SEC has secured a freeze on the assets of the individuals and their companies, GCZ Global LLC and Triten Financial Group LLC. In court, the regulator seeks &#8220;permanent injunctions, the return of ill-gotten gains with interest, and the imposition of civil penalties&#8221; against the brothers.<\/p>\n<p>Earlier, the SEC accused NovaTech of orchestrating a $650 million financial pyramid.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two U.S. citizens have been charged with defrauding over 80 investors through a cryptocurrency pyramid scheme that resulted in $60 million in damages, as reported by the SEC. According to the case documents, from January 2023 to June 2024, brothers Jonathan and Tanner Adam promoted a bot service with arbitrage trading capabilities, promising clients monthly [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16434,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1163,128,26],"class_list":["post-16435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ponzi-schemes","tag-sec","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=16435"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16435\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/16434"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=16435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=16435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=16435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}