Articles Posted in Ponzi Scheme

New SEC Investor Alert Highlights Dangers of Social Media Investment Fraudsters
Savage Villoch Law, PLLC

In response to a recent proliferation of fraudulent investment schemes perpetrated over social media platforms, the Securities and Exchange Commission (SEC) released an Investor Alert covering “Social Media and Investment Fraud” this week. [1] The Investor Alert, released by the SEC’s Office of Investor Education and Advocacy, highlights the unique dangers investors face when evaluating…

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SEC Targets $300 Million Crypto-Based Pyramid and Ponzi Scheme
Savage Villoch Law, PLLC

On August 1, 2022, the Securities and Exchange Commission (SEC) charged eleven individuals in connection with a cryptocurrency Ponzi and pyramid scheme. [1] The alleged scheme was perpetrated through a website called Forsage, which operates via smart contracts over the blockchain. The eleven defendants include Forsage’s four founders as well as several “promoters” of the…

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A Look Back at SEC Enforcement Actions in Fiscal Year 2021
Savage Villoch Law, PLLC

As 2021 draws to a close, it is a fitting time to revisit some of the main enforcement actions taken by the Securities and Exchange Commission (SEC) through fiscal year (FY) 2021, which ended on September 30th, 2021. In total, the number of new enforcement actions filed by the SEC in FY 2021 increased by…

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SEC Alleges Ponzi Scheme Defrauding Investors of Over $70 Million
Savage Villoch Law, PLLC

In the midst of the COVID-19 pandemic, Ponzi schemes have continued to pose a serious threat to unsuspecting investors here in Florida and around the world. On August 9, 2021, the Securities and Exchange Commission (SEC) filed a complaint in federal court against Johanna Garcia, of Broward County, and two companies she owns, MJ Capital…

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