The U.S. Securities and Exchange Commission (SEC) has charged the masterminds behind Novatech with running a fraudulent $ 650 million crypto scheme. Novatech allegedly operated as a multi-level marketing and crypto asset investment program, where most investor funds were misappropriated to pay existing investors and promoters. SEC Charges Novatech Ltd. in $ 650 …
The Washington State Department of Financial Institutions (DFI) issued a warning on Thursday after it received a complaint from a Washington investor about Fameex, now offline. The investor, a real estate agent, met scammer “Jackson Qie” via an unsolicited text. Qie convinced him to invest over $ 113,000 in ether (ETH) and tether (USDT) …
The U.S. Homeland Security Investigations has charged two men for operating Empire Market, a dark web marketplace, facilitating $ 430 million in illegal transactions. The defendants face severe penalties, including life imprisonment. “During the investigation, federal law enforcement seized cryptocurrency valued at $ 75 million at the time of the seizures, as well …
Neil Leon De Waal, a key figure in the GS Partners metaverse fraud case, was reportedly arrested by South African law enforcement in late May. He was subsequently released on bail on June 3. Authorities began investigating De Waal following a complaint from one of his victims. The complainant, who lives in Benoni, had to […]
The U.S. DOJ has charged the CFO of a media company with one count of money laundering and two counts of bank fraud for participating in a scheme that laundered criminal proceeds using cryptocurrency. Authorities allege that Weidong Guan and his accomplices used bank accounts opened with stolen personal identification information to transfer the funds […]