SEC Announces $300 Million Ponzi Scheme Targeting Latinos Claiming to Buy Cryptocurrency

“The only thing CryptoFX covered was the trail of thousands of victims spanning 10 states and two foreign countries,” he said. “Schemes of that scale require many participants, and as today’s actions demonstrate, we will prosecute not only the key architects of these large-scale schemes, but also all those who illegally recruit victims and facilitate the fraud.”