US SEC charges PGI Global founder with $198 million crypto fraud scheme

ReutersApr 22, 2025 9:28 PM

WASHINGTON, April 22 (Reuters) - The U.S. Securities and Exchange Commission said on Tuesday it charged PGI Global Founder Ramil Palafox for orchestrating a fraudulent scheme that raised about $198 million from investors worldwide.

The SEC added that the charges stem from the misappropriation of more than $57 million of investor funds.

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