SEC Charges Crypto Trading Platforms And Investment Clubs With Scheme Targeting Retail Investors Via Social Media
The Securities and Exchange Commission recently filed charges against purported crypto asset trading platforms Morocoin Tech, Berge Blockchain Technology, and Cirkor, and investment clubs AI Wealth Inc., Lane Wealth, AI Investment Education Foundation, and Zenith Asset Tech Foundation alleging that they defrauded retail investors “out of more than $14 million in an elaborate investment confidence scam.”
Laura D’Allaird, Chief of the Cyber and Emerging Technologies Unit said:
“This matter highlights an all-too-common form of investment scam that is being used to target U.S. retail investors with devastating consequences. Our complaint alleges a multi-step fraud that attracted victims with ads on social media, built…
