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Texas Ponzi Scheme Debtor Denied $12.5M Bankruptcy Protection in Crypto Case
Texas Ponzi Scheme Debtor Denied $12.5M Bankruptcy Protection in Crypto Case
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BTCCSquare news:
A U.S. bankruptcy court has barred Nathan Fuller, operator of Privvy Investments LLC, from discharging $12.5 million in debts tied to a cryptocurrency Ponzi scheme. The Southern District of Texas entered a default judgment after investigators found Fuller concealed assets, falsified documents, and lied under oath.
Fuller solicited funds under the guise of crypto investments, diverting proceeds to luxury purchases, gambling trips, and a $1 million home for his ex-wife. U.S. Trustee Kevin Epstein emphasized the ruling sends a clear message: 'Fraudsters seeking to whitewash their schemes will not find sanctuary in bankruptcy.'
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