{"id":69611,"date":"2022-11-05T16:09:26","date_gmt":"2022-11-05T14:09:26","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69611"},"modified":"2025-09-07T21:04:02","modified_gmt":"2025-09-07T18:04:02","slug":"sec-charges-trade-coin-club-organisers-over-295-million-fraud","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-charges-trade-coin-club-organisers-over-295-million-fraud\/","title":{"rendered":"SEC charges Trade Coin Club organisers over $295 million fraud"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) has charged four organizers of the Trade Coin Club cryptocurrency pyramid scheme.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We charged Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor, and Jonathan Tetreault for their roles in Trade Coin Club, a $295 million fraudulent crypto Ponzi scheme.<\/p>\n<p>\u2014 U.S. Securities and Exchange Commission (@SECGov) <a href=\"https:\/\/twitter.com\/SECGov\/status\/1588584699873693699?ref_src=twsrc%5Etfw\">November 4, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the SEC, Trade Coin Club raised 82,000 BTC totaling $295 million from more than 100,000 investors worldwide between 2016 and 2018.<\/p>\n<p>According to the indictment, the company promised investors a minimum daily return of 0.35%, allegedly provided by a bot trading cryptocurrency assets.<\/p>\n<p>The SEC contends that Trade Coin Club defrauded investors and operated as a Ponzi scheme.<\/p>\n<p>Charges of misappropriating bitcoin funds were brought against Douver Torres Braga ($55 million), Joff Paradise ($1.4 million), Keleionalani Akana Taylor ($2.6 million) and Jonathan Tetreault ($625,000).<\/p>\n<p>Earlier in October, the Brazilian police <a href=\"https:\/\/u1f987.com\/en\/news\/brazilian-police-dismantle-e780m-cryptocurrency-pyramid\">uncovered a crypto pyramid<\/a> worth \u20ac780 million.<\/p>\n<p>Earlier, the SEC <a href=\"https:\/\/u1f987.com\/en\/news\/sec-accuses-forsage-founders-of-promoting-a-300-million-crypto-pyramid\">accused<\/a> eleven people of creating and promoting the Forsage Ponzi scheme, which attracted more than $300 million from investors worldwide.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission has charged four organizers of the Trade Coin Club cryptocurrency pyramid.<\/p>\n","protected":false},"author":1,"featured_media":69612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1163,128],"class_list":["post-69611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ponzi-schemes","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69611","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=69611"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69611\/revisions"}],"predecessor-version":[{"id":69613,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69611\/revisions\/69613"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/69612"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=69611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=69611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=69611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}