David Kagel, a retired American lawyer, was sentenced to five years in prison for operating a Ponzi scheme. In May 2024, Kagel admitted to conspiracy charges and has now received his formal sentence.
The U.S. Securities and Exchange Commission (SEC) has charged an additional 17 managers connected to the cryptocurrency platform CryptoFX, accusing them of orchestrating a $300 million Ponzi scheme. This action comes 18 months after the SEC banned CryptoFX's operations and accused its founders of fraud.
Juan Tacuri has pleaded guilty to promoting the Forcount crypto Ponzi scheme and misleading investors.
