The US Securities and Stock Exchange Committee (SEC) accused Ramil Palafox, a dual citizen of the United States and the Philippines, with the coordination of a $ 198 million coding script.
From January 2020 to October 2021, Palafox has managed a Ponzi scheme through his company, PGI Global, which intensifies many investors.
SEC cracks on a huge encryption fraud
According to the press statement, the organizer claims that Palafox raised about $ 198 million of investors worldwide. They promised large returns from the encryption trade and the foreign exchange.
However, SEC claims that Palafox misused more than $ 57 million of money for personal purchases.
As it was claimed in Shakwana, Apavox attracted investors with the attractive profits of sophisticated encryption assets and foreign exchange trading, but instead of trading, he bought the same pavox, his family hours, hours and homes using millions of dollars of investor funds, ” I mentioned.
Moreover, the company worked with the multi -level marketing structure (MLM). Palfox attracted investors by demanding experience in the encryption sector and presenting a trading platform driven by artificial intelligence (AI). However, each of these two claims proved that they are fraudulent.
The scheme eventually collapsed in 2021, which led to great financial losses for investors.
“The complaint of the Supreme Education Council, which is filed in the American District Court of the Eastern Region in Virginia, is accused of violating the provisions of combating fraud and registration in federal securities laws,” detailed.
The Supreme Education Council requires that with non -specific gains and pay civil sanctions. The organizer also asked for a permanent judicial order to prevent Palafox from engaging in similar activities in the future. In addition, the US Public Prosecutor’s Office has filed criminal charges.
An Iranian citizen accused of operating the dark web market
Meanwhile, in a separate case, a federal jury charged Iranian national accusation Peruz Parazrad to establish and operate a dark web market. According to the American Public Affairs Office, the enemy market facilitated the sale of illegal drugs, including fentanel and other controls. The market also participated in criminal activities such as stealing financial statements and distributing malware.
Between 2021 and 2024, the enemy was processed more than 400,000 requests. In addition to drug trafficking, Paarrad is also accused of laundering money to use Crypto to hide illegal activities.
“Enemy users were not allowed to conduct transactions in government -backed official currencies,” the press statement Read.
The accused is now facing a 10 -year minimum impulsive penalty in the Federal Prison, with the maximum sentence of life if convicted.
Previously, Beincrypto highlighted that the FBI arrested Anurag Bramod Marrak to wash more than $ 24 million using the dark web. Cases shed light on the intense concentration of the United States government on organizing the coded currency sector and combating electronic crime.
Disintegration
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