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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

Global Cryptocurrency
Author:
Global Cryptocurrency
Release Time:
2025-04-23 08:50:02
0
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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