Regulation
Crypto Companies Charged in $44 Million Ponzi Scheme
The owners of EmpowerCoin, ECoinPlus and Jet-Coin face charges of wire fraud, money laundering and obstruction of justice, among others.
The owners of EmpowerCoin, ECoinPlus and Jet-Coin face charges of wire fraud, money laundering and obstruction of justice, among others.
CEO Manish Lachwani allegedly falsely inflated the software firm’s revenue by $800 million.
The regulator gave $564 million to 108 tipsters, while distributing $521 million to harmed investors.
The regulator says it is ‘intently focused on SPAC merger transactions.’
James Leonard Smith allegedly helped steal nearly $6 million from investors desperate for financing.