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SEC Files Suit Against Two Men Posing As Religious Leaders To Run Bitcoin Ponzi Scam
Summary: The Securities and Exchange Commission is going after two men who stole millions of dollars worth of Bitcoin from over 1,000 victims, according to a recent trial by jury request. Over two years Arley R Johnson posed as a minister and Dennis. M Jali pastored at seven church locations to gain influence within religious communities. ...
The Securities and Exchange Commission is going after two men who stole millions of dollars worth of Bitcoin from over 1,000 victims, according to a recent trial by jury request.
Over two years Arley R Johnson posed as a minister and Dennis. M Jali pastored at seven church locations to gain influence within religious communities. They then used that influence to convince those around them to invest in one of two companies, Smart Partners or 1st Million, raising $27 million in funds taken mostly from African immigrants.
The scammers told investors that they would trade Bitcoin and Forex on their behalf and return the money in a year. They asked for a $5,000 initial investment promising between 6% and 42% returns on investment over a single financial quarter. They then used those investments for personal expenses.
By Emily Mason
Tags: Bitcoin,BTC,Forex
Link: SEC Files Suit Against Two Men Posing As Religious Leaders To Run Bitcoin Ponzi Scam [Copy]
