Security· ★★· bearish·

SEC accuses New Jersey resident of $16 million Ponzi scheme

  • —SEC accused a New Jersey resident of a $16 million Ponzi scheme
  • —According to the regulator, investor funds went to pay earlier participants
  • —The case has been referred to court, with no exact timeline for proceedings disclosed
Why it matters: Another SEC case against crypto fraud increases the regulator's pressure on dishonest schemes in the industry.
Source: Yahoo Finance Crypto
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