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Texas man charged with $12.3 million AI crypto arbitrage scam

CoinNetwork
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Abstract generation in progress
CryptoWorld News reports that the U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Texas resident Nathan Fuller, accusing him of orchestrating a $12.3 million AI crypto arbitrage scam, promising triple-digit returns within weeks. The SEC alleges that Fuller solicited funds from approximately 150 investors and claimed to have developed an AI-based high-frequency arbitrage "trading robot" capable of generating high profits with low risk, but in reality, he diverted millions of dollars for personal expenses and operated a Ponzi scheme. The investment contracts Fuller promoted promised returns of "over 40% to 50%" within 30 to 45 days, and even "guaranteed" over 100% returns within 21 days. The SEC is seeking to impose a permanent injunction against Fuller, confiscate ill-gotten gains and interest, and impose civil penalties, continuing the crackdown on crypto Ponzi schemes disguised as technical jargon.
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GateUser-de0b9e3b
· 8h ago
The first lesson in the crypto world: Anyone promising guaranteed returns is a scammer
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MountainSilhouetteBeforeThe
· 10h ago
Classic misappropriation, putting money into your own pocket is the safest
View OriginalReply0
LpGrandma
· 10h ago
Texas bro is up to his tricks again
View OriginalReply0
GateUser-1bc81bb2
· 10h ago
AI high-frequency trading robot, that sounds unbelievable
View OriginalReply0

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