TechFlow news, on December 11, the U.S. SEC filed a lawsuit against a fraud ring, accusing it of impersonating U.S. securities brokers and investment advisor representatives, using fake websites and phone calls to defraud at least $2.9 million from investors.
Since 2019, this group has posed as employees of well-known U.S. securities firms, promising monthly investment returns of 15%-25% to persuade potential investors to invest. They instructed investors to open accounts on brokerage platforms and cryptocurrency trading platforms and purchase digital assets, which they later misappropriated. The defendants also directed investors to use fraudulent online investment platforms that displayed fictitious high returns. These fake returns led many investors to deposit additional funds, which were also stolen by the defendants.
When investors eventually sought to withdraw their funds, the fraud ring informed them that additional fees were required. The group and/or associated individuals stole at least $2.9 million from 28 investors, most of whom reside in the United States.
