The US Securities and Exchange Commission (SEC) has filed charges against 4 individuals who collected more than 82,000 Bitcoins through the global ponzi scheme called “Trade Coin Club”.
SEC, “Trade Coin Club” He filed a criminal complaint against the founder of the global ponzi scheme and 3 US-based supporters.
Founder Douver Torres Braga including Joff Paradise, Keleionalani Akana Taylor and Jonathan Tetreault about worldwide more than 100,000 more investors at that time $295 million worth More than 82,000 Bitcoins They will be investigated for their role in Trade Coin Club, a crypto Ponzi scheme that collects money.
According to the SEC’s complaint filed in U.S. District Court, the project’s founder, Braga, said: from 2016 to 2018 He created and controlled the Trade Coin Club, a multi-level marketing program that operates until today and promises profits from the trading activities of a so-called crypto-assets trading bot. The SEC states that the bot algorithm in question “switches” every second.millions of microtransactions” and investors’ daily minimum 0.35% return He claims that he is tempted by false statements that he will win.
But according to the SEC, these statements are completely false and money from investors was spent on Trade Coin Club executives or on advertising costs and abused to attract more investors.
In addition, Trade Coin Club, which operates as a Ponzi scheme, accepts investors’ withdrawal requests from new investors. funds added to the system allegedly met. Also, in the SEC’s criminal complaint, the funds of the 3 founders and main supporters to your own personal accounts contains phrases.
According to data at that time, the founder Braga had at least a minimum of the amount invested by users. 8,396 Bitcoin’i (worth $55 million at the time) Paradise’s 238 Bitcoins (worth $1.4 million at the time), Taylor’s 735 bitcoins (worth $2.6 million at the time) and Tetreault’s 158 Bitcoins (worth $625,000 at the time) allegedly took it personally.
Chief of Crypto Assets and Cyber Unit, Enforcement Office David HirschThe explanations of the ponzi scheme in question are as follows:
We claim that Braga is using the Trade Coin Club to steal hundreds of millions of dollars from investors around the world and enrich himself by exploiting their interest in investing in digital assets. To ensure our markets are fair and secure, we will continue to use blockchain monitoring and analytical tools to assist us in tracking down securities fraudsters.