Four years, millions of dollars, 11 charges—what's left of the script played out by traditional finance, the crypto world is still reenacting it. This time, the Department of Justice has turned the ledger inside out.

CryptoWorld News reports that, according to Decrypt, the U.S. Department of Justice announced that a man from Tennessee has been charged with 11 counts for operating a cryptocurrency Ponzi scheme through Star Credit Holdings from 2020 to 2024. The man lured investors with false promises of guaranteed returns, used funds from new investors to pay old investors, defrauding millions of dollars, and embezzled over $1.9 million for himself and his family. He is charged with wire fraud, money laundering, and submitting false tax returns, and if convicted, faces decades in federal prison.