Regulations & Policy
Bitcoin trading firm CEO sentenced to 20 years over $200 million ponzi scheme
•1 min read
Ramil Ventura Palafox, CEO of a Bitcoin trading firm, has been sentenced to 20 years in prison for orchestrating a $200 million Ponzi scheme. The U.S. Department of Justice revealed that Palafox misled investors by promising unrealistic daily returns of 0.5% to 3%, which the firm was unable to deliver.
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