SEC Charges Individuals In Fraudulent Crypto Pyramid Scheme

A fraudulent crypto pyramid and Ponzi scheme that garnered over $300 million (approximately Rs. 2,500 crore) from retail investors worldwide, including in the United States,

was created and promoted by 11 people, according to the Securities and Exchange Commission,

which announced the charges on Monday. The four Forsage scheme founders were among those accused.

The SEC said in a statement that they were last identified as having addresses in Indonesia, the Republic of Ge