"Florida man pleads guilty to stealing millions in crypto Ponzi scheme" | Crypto

“Florida man pleads guilty to stealing millions in crypto Ponzi scheme”

-Joshua David Nicholas of Stuart, Florida pleaded guilty to participating in a cryptocurrency-based Ponzi scheme that defrauded investors of approximately $100 million.
-The scheme, called EmpiresX, promised investors daily profits of one percent.
-In reality, the scheme was a fraud, and the majority of investors’ funds were used for personal gain by the scheme’s operators.
-Nicholas pleaded guilty to one count of conspiracy to commit securities fraud, and faces up to five years in federal prison.
-EmpiresX co-founders Emerson Sousa Pires and Flavio Mendes Goncalves fled to Brazil after freezing investor withdrawals earlier this year.
-The SEC filed a civil complaint in June against Nicholas, Pires, and Goncalves, alleging that they violated the Securities Act of 1933 and the Securities Exchange Act of 1934.

bitcoin pyramid ponzi scheme gID 1 "Florida man pleads guilty to stealing millions in crypto Ponzi scheme"

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