Wu Shuo Huozhi, a federal grand jury in the Western District of Tennessee, USA, 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 the scale of managed assets, and provided false account statements to investors, using new investor funds to pay returns to old investors. Additionally, he is also suspected of assisting investors in investing with loan funds, forging related documents, embezzling over 1.9 million dollars of investor funds, and hiding related income to evade taxes. Abidi is charged with 11 counts including telecommunications fraud, unlicensed money transmission, aiding in the submission of false tax returns, and money laundering. If convicted, he faces a maximum of several decades in prison.