DOJ Crushes $200M Bitcoin Ponzi

[nihalsari]

The DOJ has sentenced Ramil Ventura Palafox to 20 years in prison for running a massive crypto Ponzi scheme. PGI (Praetorian Group International) defrauded 90,000+ investors worldwide out of over $200M, promising daily Bitcoin returns of 0.5–3% that never existed. Authorities say Palafox used investor funds to fuel a lavish lifestyle, including luxury cars, penthouses, and designer goods.

[madmax]

glad the doj actually locked him up, maybe sends a message to other crypto fraudsters

[JanEmil]

Crypto is simple. Hodl your own assets.