Summary
TLDR: The SEC is cracking down on a $300 million Ponzi scheme involving CryptoFX LLC, which defrauded Latino investors. 17 individuals have been charged, with leaders accused of swindling $12 million. The SEC faced digital disruptions, including a website outage and a SIM swap attack on its Twitter account. The agency is working to dismantle the scheme, with some defendants settling.
Key Points
1. The SEC is cracking down on a $300 million Ponzi scheme, facing unexpected digital disruptions that complicate efforts to address financial fraud.
2. Legal actions against individuals associated with CryptoFX LLC highlight the gravity of scams that defrauded Latino investors.
3. The SEC is actively pursuing legal action against individuals involved in promoting unregistered investments and operating without broker registration, with defendants settling and paying significant sums without admitting guilt.