SEC accuses the founder of Global PGI for Crypto Fraud of USD $ 200 million (76)

Through a scam with pyramidal characteristics, Ramil Palafox raised USD $ 200 million through a company called Global PGI, which marketed investment packages and offered daily profitability of 3% on investment.

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• A pyramidal scheme disguised as investment in cryptocurrencies left thousands with nothing.
• The founder spent more than USD $ 57 million in luxury goods, according to the Sec.
• He Department of Justice Look for up to 11 years in prison for the defendant.

Ramil Palafox, a 59 -year -old businessman from Las Vegas, Nevada, has been accused of the US stock and values ​​commission. UU. (Sec) to direct a fraudulent scheme with pyramidal characteristics, which defrauded more than 90,000 people worldwide. According to the agency, the model operated under the name Global PGI, An already missing company that promised daily returns of 3% and double the capital invested.

According to a report published by COINDESK, the complaint filed by the Sec He maintains that Palafox and his network raised about USD $ 200 million between January 20, 2021, offering memberships in the form of investment packages that could be paid in Bitcoin or fiduciary currencies. However, Instead of investing the funds, the defendant would have diverted more than a quarter of the money to personal and family expenses, including luxurious properties, high -end cars and other expensive items.

Among the expenses detailed by the Sec At least USD $ 57 million is found for personal purchases: Lamborghinis, real estate properties, jewels and other luxury goods. The strategy, according to prosecutors, was to use the funds of new investors to pay the previous ones, which constitutes a classic Ponzi type operation.

In addition, Palafox faces parallel criminal charges presented by a court in Virginia, which has charged him about 23 charges, including eight related to electronic fraud. Due to their “Strong links” With the Philippines – including double citizenship – the judge ordered his preventive detention.

The Sec It hardens your speech without giving up control

The accusation occurs in the middle of a restructuring within the Sec Regarding the supervision of the crypto sector. Since the beginning of President Donald Trump’s second term, the agency has relaxed its most punitive approach promoted by its previous president, Gary Gensler. However, current officials have promised to maintain surveillance on fraud related to digital assets, although there is now a more conciliatory attitude.

Laura d’Allared, director of the SEC -emerging technologies unitdeclared: “Palafox used the facade of innovation to enrich themselves, cheating thousands with false promises of expert knowledge and an automatic trading platform driven by artificial intelligence.”

Similarly, the Department of Justice (DOJ) He has redirected his efforts towards the persecution of individuals who directly harm investors, dismantling his crypto working group and leaving aside criminal charges for minor regulatory violations.

In the Palafox case, he DOJ Find a sentence between 9 and 11 years in prison (108 to 135 months), in addition to the recovery of embezzlement funds and civil sanctions. It is also intended to obtain compensation indirectly, including his wife Marissa Mendoza Palafox, and his brother -in -law Darvie Mendoza.

Implications for global crypto ecosystem

The case highlights once again the risks facing investors in a crypto market with little international supervision. Although many platforms and products present genuine innovation, fraudulent schemes continue to camouflage under extraordinary profitability promises.

The lesson is clear: distrust guaranteed returns, especially in volatile markets such as digital assets. The US authorities continue to emphasize the importance of financial education and due diligence before investing in any proposal linked to cryptocurrencies.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain.

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.

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