PGI Global founder charged in Chemicals Crypto

The founder of PGI Global Ramil Palafok has performed a multimillion crypto fraud scheme for more than a year, investigators in the Securities and Exchange Commission said recently.

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SEC announced that Palafok collected for his role in a scheme, which raised almost $ 300 million in investors and for irregularity of more than 57 million investor funds. According to the SEC complain, PGAFOK’s company, PGI Global, claimed that the CRIPTO property and foreign currency trading company that offered and sold membership packages promising a high return. Between January 2020. until October 2021. year, the scheme offered members of several level-marketing incentives for recruiting new investors.

However, said SEK, Palaphok was strained by investing funds for the purchase of Lamborghinis, the items from the luxury merchant and other personal expenses. In addition, he used new funds for investors to pay other investors in the reported returns and award for reference as the scheme collapses in late 2021. years.

“As reportedly, Palaphok attracted investors with a guaranteed profit from a sophisticated cratted, and that Palaphok bought himself and his family cars,” Scott Thompson, “Scott Regional Office of the Scott regional office. “We will continue to investigate and take action against bad actors who use investors with promises for guaranteed passive income and other lies and fraud.”

SEC has filled Palafok, violated the provisions of federal securities and seeking a permanent means of protecting the provisions, which offer it or cryptian assets sales, decoration from securities or crypto.

“Palaphox used pirma innovation to invest investors in pockets, and millions of dollars, while many victims left empty-handed,” Laura d’Allaird said, chef ciber and commission technology. “In reality, his false claims on the expertise of the crypto industry and assumed Ai-ai-ai-ai-elektropni for automatic trading only masked international securities.”