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The U.S. Federal Trade Commission said Friday that it obtained a court order to freeze the assets and halt activities of four individuals for allegedly operating a cryptocurrency Ponzi scheme.
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Using YouTube videos, social media and conference calls, the defendants targeted investors with no experience or knowledge through chain referral schemes known as Bitcoin Funding Team and My7Network.
The FTC alleges that the fourth defendant Scott Chandler, who ran his scam since February 2017, duped victims into investing in the crypto investment pool, which promised outsized returns.
Chandler preyed on ... (read more)