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71 Greed

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Regulation Bearish

SEC charges four entities over $15.3M crypto AI scam fraud

The SEC filed two complaints in US District Court for the Southern District of New York against four entities likely operated by overseas individuals.

  • The schemes targeted hundreds of retail investors, including many in the US, via WhatsApp and other online platforms.
  • Both schemes falsely claimed SEC regulatory approval and posted falsified SEC filings to gain investor trust.
  • Cryptoaiml directed investors to a fake trading platform with no real trades, while TSAI sold a non-existent AI trading bot program.
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