Wu Shuo learned that a federal grand jury in the Western District of Tennessee has indicted 47-year-old Misam M. Abidi, accusing him of operating a Ponzi scheme through the cryptocurrency investment company Star Credit Holdings from 2020 to 2024, allegedly defrauding investors across the United States of millions of dollars. The indictment states that Abidi attracted investments by promising high returns, fabricating reserves, and exaggerating asset management scales, and provided investors with false account statements to pay returns to old investors with new investor funds. Additionally, he is also suspected of assisting investors in investing with loan funds, forging related documents, embezzling over $1.9 million of investor funds, and hiding related income to evade taxes. Abidi faces a total of 11 charges including wire fraud, unlicensed money transmission, aiding in the submission of false tax returns, and money laundering. If convicted, he could face decades in prison.