SEC Charges PGI Global Founder with $198 Million Cryptocurrency Fraud

The SEC has charged PGI Global’s founder with a $198 million crypto fraud, misleading 1,800 investors through false investment assurances. The SEC has frozen PGI’s assets and seeks to recover funds for affected investors.

The U.S. Securities and Exchange Commission (SEC) has charged the founder of PGI Global with orchestrating a $198 million cryptocurrency fraud scheme. The allegations involve deceiving investors through false representations about PGI Global’s investment capabilities and the safety of their funds. Accusations include selling unregistered securities and making fraudulent promises regarding returns, misleading approximately 1,800 investors. The SEC aims to recover the funds for investors and has frozen PGI’s assets to prevent further financial misconduct.