Sentences with phrase «ponzi schemes using»

Investor Alert: Ponzi Schemes Using Virtual Currencies.

A US federal judge has ruled that bitcoin is a «form of money», paving the way for a legal case against a man accused of running a giant ponzi scheme using the virtual currency.

Not exact matches

Authorities said Platinum operated «like a Ponzi scheme» by using new money to fund redemptions by earlier investors, which were referred to internally as «Hail Mary time.»

«Beginning in November 2014 and continuing until his arrest in March 2016, CASPERSEN engaged in a Ponzi - like scheme to defraud investors, including his close friends, family members, and college classmates, by falsely claiming that their funds would be used to make secured loans to private equity firms and would thereby earn an annual rate of return of 15 to 20 percent.

Rather, CASPERSEN operated a Ponzi - like scheme in which he misappropriated investor funds from the Fake Fund Accounts and converted them to his own use and use by others, including by using investor funds to meet CASPERSEN's periodic interest payment commitments to earlier investors.

Another first for Bitcoin, but an ignominious one: The Securities and Exchange Commission has filed its first fraud lawsuit involving the virtual currency, claiming it was used in a Ponzi scheme.

The agency, according to the alert is «concerned that the rising use of virtual currencies in the global marketplace may entice fraudsters to lure investors into Ponzi and other schemes in which these currencies are used to facilitate fraudulent, or simply fabricated, investments and transactions.»

Elizabeth Avery, a Washington, D.C., securities attorney and founder of Kalorama Capital, said Ponzi schemes are a common type of fraud, where investor funds are used to attract new investors and make payments.

Other investor funds solicited by Simmons were used by the owner of the Hedge Fund in the Ponzi - like scheme to make payments to prior Hedge Fund investors, Berman said.

A 49 - year - old Wilton man was sentenced to more than three years in prison Tuesday for using hedge - fund money for his own personal use as part of a $ 6 million - plus Ponzi scheme.

Private placements are usually high risk, and some - times are used to hide Ponzi schemes.

The regulators said they had investigated numerous cases where a self - directed IRA was used to lend credibility to a Ponzi scheme.

Other investor funds solicited by Simmons were used by the owner of the Hedge Fund in the Ponzi - like scheme to...

We previously issued an Investor Alert about the use of Bitcoin in the context of a Ponzi scheme.

In fact, if anything, legislative «reforms» like Dodd - Frank did nothing more than enable the big banks to continue using derivatives and Ponzi - scheme financial structures as mechanisms to continue sucking wealth out of the system.

Use or post, without authorization, any content protected by law (e.g. copyright, trademark, patent, utility patent, design patent or other intellectual property (IP) laws), or advertise, promote, offer or distribute any goods or services protected by law; v. Use, post or promote any commercial practices considered unfair competition, including progressive customer acquisition practices (such as chain distribution systems, Ponzi schemes, illegal multi-level selling or pyramid sales).

uhh he was a ponzi financier who kept people signing on to his scheme by using new capital to meet promise of big guaranteed annual returns... and wenger is much the same tells fans he is bringing guaranteed football glory by selling off top players and bringing in cheap options while charging exhorbitant prices to fans who recall the glory days while siphoning off money to himself and board... its not perfect but it will do....

The Senate has declared its intent to probe deposit money banks used for transactions between Nigerians and a ponzi scheme, Mavrodi Mondial Movement.

As many Nigerians, specifically the participants of the popular Ponzi scheme, Mavrodi Mondial Moneybox known as MMM, are hoping to unfreeze their accounts, the scheme had dump the use of Naira as mode of payment by introducing Bitcoin as the best performing currency.

Peralta's sister, whose bank account was used for the Ponzi scheme, gave up her brother when investigators confronted her, sources said.

We were buying a place to live, not an asset to be used in the Ponzi scheme of «climbing the housing ladder».

Prior to Spitzer's tenure, it was mostly used for smaller financial violations, such as «shady pharmacists, Ponzi schemes, and peddlers of fraudulent Salvador Dali lithographs,» according to a 2004 article in Legal Affairs by Nicholas Thompson, published prior to the revelation of the Bernie Madoff Ponzi scheme, for which Andrew Cuomo used the Martin Act when he was attorney general.

I wish they would propose a law targeting those who fraudulently use crowdfunding sites such as Indiegogo as Ponzi - like schemes, fully knowing that many people who reside in faraway places will be unlikely to expend the time or money needed to recuperate their losses.

In reality, Koretz was running a Ponzi scheme: using the money from new investors to pay off earlier investors.

He used part of the money to repay some investors in the manner of a Ponzi scheme, misrepresenting them as profits.

A Ponzi scheme is a form of investment fraud that uses new investor money to pay absurdly high rates to newer investors.

Bandoian's report made the company sound like a classic Ponzi scheme, as he wrote that «monies used for repayment appear to have come directly from the funds received from lenders, as Cash Plus did not appear to have sufficient income - generating activities to support the interest payments on these deposits and to pay staff and other operating costs.»

BitConnect, widely suspected in the crypto - space of being little more than a Ponzi scheme, allowed investors to lend money to BitConnect, which the company would then use to trade in the volatile cryptocurrency market using advanced trading software.

A hacker attack on SendGrid, an email service used by many companies including Coinbase, resulted in mass spam emails advertising Ponzi schemes being sent to users of Coinbase and Local Bitcoins.

Do note that there are several «investment» plans out there that use P2P lending as a cover for their ponzi schemes, including

Do note that there are several «investment» plans out there that use P2P lending as a cover for their ponzi schemes, including the popular cryptocurrency, Bitconnect.

Through its Crypto - Nigeria arm, local meet ups have been arranged in order to tackle criminal activities by collaborating with government agencies and relevant bodies in fighting against crypto - related crimes, such as HYIP and Ponzi schemes that use bitcoin and other cryptocurrencies for payment.

But Buyer Beware of People who want to separate you from your money — «The interest will help attract more mainstream adoption and, given how mind bendingly weird blockchain and cryptocurrencies are, there is a definite risk of scams and ponzi schemes as old as the hills using the buzzword «Bitcoin» as a sales technique»

«'' In terms of using Bitcoin or some of the cryptocurrencies, we are also looking at it, but I'm told the vast majority of cryptocurrencies are basically Ponzi schemes,» Kim said, according to Bloomberg.

Testimonies from customers describe an operation more like a Ponzi scheme that used the veneer of bitcoin trading as its lure.

One problem for Indian regulators is the use of bitcoin in multi-level marketing schemes, which are basically ponzi schemes involving an actual product that helps them to appear legitimate.

James McDonald, the CFTC's Director of Enforcement, said that Dean «sought to take advantage of that public interest, offering retail customers the chance to use Bitcoin to invest in binary options, when in reality they were only buying into a Ponzi scheme.

Taken to an extreme, this is actually more or less the definition of a Ponzi scheme (a scheme in which a continual influx of new money is used to subsidize earlier investors).