Texas Court Denies Crypto Fraudster’s Bankruptcy Discharge in $12.5M Ponzi Case

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2025-09-10 22:01:02

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A U.S. bankruptcy court delivered a decisive blow to crypto fraudster Nathan Fuller, rejecting his attempt to erase $12.5 million in debts tied to a Ponzi scheme. The Southern District of Texas found Fuller systematically concealed assets, falsified records, and perjured himself while operating Privvy Investments LLC—a venture that diverted investor funds to luxury purchases and gambling.

The August 1 default judgment sets a precedent against using Chapter 7 bankruptcy as a shield for financial crimes. "Fraudsters seeking to whitewash their schemes will not find sanctuary in bankruptcy," declared U.S. Trustee Kevin Epstein. Investigators traced misappropriated funds to a $1 million home purchase among other extravagant expenditures.

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