SEC-PR-2024-88 (JUL. 25, 2024) Source: https://www.sec.gov/newsroom/press-releases/2024-88 Download: SEC-PR-2024-88 ⊗ (PDF) PRESS RELEASE | SEC-PR-2024-88 Securities and Exchange Commission Charges Virginia Engineer with Orchestrating $30 Million Offering Fraud Washington D.C., July 25, 2024 — The Securities and Exchange Commission today charged Babu Ramaraj, a resident of Aldie, Virginia, with defrauding more than 70 investors of approximately […]
Category: Ponzi Schemes
A Ponzi Schemes are fraudulent investment scams where returns to existing investors are paid with funds from new investors rather than from profits generated by the investment. The scheme typically attracts investors by promising high returns with little or no risk. Initially, early investors may receive payouts, encouraging them to invest more or to attract others. However, as the scheme grows, the operator struggles to find enough new investors to pay earlier investors, leading to collapse. Ponzi schemes rely on a continuous influx of new participants to sustain the illusion of profitability and payouts. When the scheme unravels, investors often lose their money as the promised returns are unsustainable and the operator absconds with remaining funds. Regulatory authorities vigorously pursue and prosecute Ponzi scheme operators due to their inherent deceit and harm to investors.
File ID: CFTC-PR-8931-24 Date: July 3, 2024 Accessed: July 8, 2024 Headline: Federal Court Enters Summary Judgment Against Oregon Man and Orders $83 Million in Restitution for Fraud Victims Source: https://www.cftc.gov/PressRoom/PressReleases/8931-24 Categories: COMMODITY FRAUD MISAPPROPRIATION PONZI SCHEME CFTC-PR-8931-24 – Viewer: ▼▼▼ (Download PDF File ⊗)
File ID: CFTC-PR-8911-24 Date: May 14, 2024 Accessed: June 21, 2024 Headline: Commodity Futures Trading Commission Charges Agridime and Its Co-Founders with a Fraudulent Cattle Scheme. Source: https://www.cftc.gov/PressRoom/PressReleases/8911-24 Categories: COMMODITY FRAUD PONZI SCHEME CFTC-PR-8911-24 – Viewer: ▼▼▼ (Download PDF File ⊗)
SEC-PR-2024-35 (MAR. 14, 2024) Source: https://www.sec.gov/newsroom/press-releases/2024-35 Download: SEC-PR-2024-35 (PDF) PRESS RELEASE | 2024-35 SEC Charges 17 Individuals in $300 Million Crypto Asset Ponzi Scheme Targeting the Latino Community. Washington D.C., March 14, 2024 — The Securities and Exchange Commission today charged 17 individuals for their roles in a $300 million Ponzi scheme that involved Houston, […]
Ponzi Schemes are a form of investment scam that lures investors with the promise of high returns and minimal risk. Named after Charles Ponzi, who perpetrated such a scheme in the early 20th century, it operates by using funds from new investors to pay returns to earlier investors, rather than generating profits through legitimate business […]