Ramil Ventura Palafox falsely promised investors 0.5% to 3% daily returns when the company was not able to produce such amounts, per the DOJ.
Bitcoin trading firm CEO sentenced to 20 years over $200 million ponzi scheme
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Ramil Ventura Palafox, CEO of a Bitcoin trading firm, was sentenced to 20 years in prison for operating a $200 million Ponzi scheme, the U.S. Department of Justice said; Palafox falsely promised investors 0.5%–3% daily returns when the company was not able to produce such amounts, the DOJ said.
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