A massive pyramid scheme has been hit with an SEC lawsuit
The company, which is registered in Saint Vincent and the Grenadines, pooled assets from investors in order to trade them and generate profits. NovaTech boasted about securing steady returns of up to 3% on a daily basis. It also claimed to be operating as a"registered hedge fund."
However, as the SEC alleges, the fraudulent company only traded an insignificant portion of the client's assets while suffering substantial losses instead of making profits. New deposits from uninitiated victims turned out to be NovaTech's only revenue source. Notably, they managed to recruit as many as 200,000 investors, according to the SEC lawsuit. Bitcoin : Extreme Fear Returns Following Most Recent Price DropThe scheme was run by Cynthia Petion and Eddy Petion.
XRP Gears up for Biggest Breakout in Price History, Crucial Bitcoin Security Warning Issued by Samson Mow, Coinbase Announces Two New Listings: Crypto News Digest by U.TodayBitcoin Hashrate Reaches New Record High as Negative Difficulty Adjustment Looms XRP Gears up for Biggest Breakout in Price History, Crucial Bitcoin Security Warning Issued by Samson Mow, Coinbase Announces Two New Listings: Crypto News Digest by U.Today
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