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U.S. SEC sues Texas resident Nathan Fuller for alleged Ponzi scheme

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CryptoWorld News reports that the U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Texas resident Nathan Fuller, accusing him of operating a cryptocurrency investment scheme under the names Privvy Investments and others, raising approximately $12.3 million from about 150 investors. The SEC states that Fuller falsely claimed he would use an AI-based high-frequency arbitrage trading robot to trade cryptocurrencies and promised investors returns of over 40% to 100% within 21 to 45 days. The SEC alleges that he misappropriated at least $6.2 million of investor funds for personal expenses, used about $5.5 million to pay returns in a Ponzi-like scheme, and concealed the use of funds through fake account statements and forged documents. Currently, the SEC has filed a lawsuit for violations of securities issuance and anti-fraud provisions, seeking to recover illegal gains and civil penalties.
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GateUser-26f91b48
· 2h ago
Texas buddy is climbing the ranks again, and the SEC lawsuit list is almost reaching fifty states.
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GateUser-5f4bad9c
· 2h ago
Faking reports is too old-fashioned; once you check on-chain data, everything is laid bare.
View OriginalReply0
PatinaTradingBell
· 2h ago
When promising a 100% return, you should think about who really is that 100%
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GateUser-83c80dd0
· 2h ago
$12.3 million, 150 people, an average of $80,000 per person—the “leeks are too concentrated” (too many targets are getting harvested), way over the limit.
View OriginalReply0

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