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BTCC / BTCC Square / Global Cryptocurrency /
SEC Charges CEO with $198M Crypto Fraud Scheme

SEC Charges CEO with $198M Crypto Fraud Scheme

Author:
Global Cryptocurrency
Published:
2025-04-23 08:50:02
7
1
Ramil Palafox, CEO of PGI Global, has been accused by the SEC of orchestrating a $198 million international fraud scheme related to crypto and forex trading. PGI Global claimed to be a crypto asset and foreign exchange trading company, selling membership packages that promised high returns. However, Palafox allegedly misused over $57 million of investor funds for personal expenses such as luxury cars and designer goods.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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