Monumental fraud. SEC and federal prosecutors have filed accusations against Ramil Palafox, accused of organized crypto fraud of $ 200 million through their PGI Global. The authorities claim that Palafox has used a pyramidal marketing system to attract more than 90,000 investors with false promises of guaranteed trading on trading with bitcoins and foreign currency.
Instead of investing funds would divert more than $ 57 million To finance a luxury lifestyle, buying cars, watches and houses. The dry and the Ministry of Justice are trying to restore poorly obtained profits and store civil and criminal sanctions.
- Dry and federal prosecutors accused Ramil Palafox of Krypto frauds of $ 200 million through PGI Global.
- Palafox would divert more than $ 57 million to finance a luxury lifestyle, instead of investing resources.
Dry and Ministry of Justice attacks RAMIL PALAFOX
PUSH The Securities and Stock Exchange Commission (SEC) The United States and Federal Public Prosecutors have filed accusations against RAMIL PALAFOXAmerican and Philippine citizen, for allegedly organizing crypto fraud $ 200 million through his company Global PGI. According to the drought, Palafox diverted more than $ 57 million Between January 2020 and October 2021 using several levels of marketing model to attract more than 90,000 investors.
Palafox would promise daily yields 0.5 % to 3 % to trade bitcoins and foreign currency, which falsely confirms that its platform was supported by sophisticated artificial intelligence. However, most funds would never be invested. Instead, Palafox would use money to finance an extravagant lifestyle, buying luxury cars, watches and real estate.
Crypto fraud $ 200 million
In detail, The dry complaintSubmitted before the Federal Court in Philadelphia, he accuses Palafox of violating federal securities laws by not registering for Sec and led and led and led and massive fraud. The agency is trying to get a Permanent court order Prevent Palafox in the sale of digital titles or assets in the future, as well as civic sanctions and restitution of poorly obtained profits.
In parallel, the United States Public Prosecutor’s Office also filed criminal accusations against Palafox, including electronic fraud and money laundering. If he was convicted, he could face the conditions of prison and seizure of goods, including more than $ 1 million in cash, 17 high -end vehicles and various luxury items.
The dry and the Ministry of Justice intensify their supervision of cryptocurrencies, focusing on fraud and violation of securities laws. This case represents the first event associated with cryptography under the guidance of the new President SEC, Paul Atkinswhich was an oath of 22 April.