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BTCC / BTCC Square / Global Cryptocurrency /
PGI Global Founder Charged with Fraud in Alleged $200M Crypto Ponzi Scheme

PGI Global Founder Charged with Fraud in Alleged $200M Crypto Ponzi Scheme

Author:
Global Cryptocurrency
Published:
2025-04-23 19:49:01
12
2
Ramil Palafox, founder of the collapsed crypto and forex investment firm PGI Global, has been charged by the U.S. Securities and Exchange Commission with orchestrating a $200 million fraud. The SEC accuses him of running a Ponzi-like scheme, diverting $57 million of investor funds to fuel a lavish lifestyle. Parallel criminal charges loom as a judge orders him held in custody, citing his strong ties to the Philippines as a flight risk. The case underscores regulators’ crackdown on crypto-related scams as investor losses mount.

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