In last week's Cabinet News and Views, we examined the U.S. regulators' approach to the digital asset space, with a focus on the assertion of jurisdiction by the CFTC, the SEC,.
A Ponzi scheme for the modern era
4 Hrs Ago
In this August 2020 file photo, a sign attached to a pole on the Brian Lara Promenade, Port of Spain, promises easy money while you relax at home. - SUREASH CHOLAI
MATT WARNER, journalist
November 2020 was the 100-year anniversary of the imprisonment of Charles Ponzi – infamous creator of the fraudulent scheme to which he gave his name. Exactly a century later, Gutemberg Dos Santos, founder of AirBit Club, a cryptocurrency mining and trading company, was charged in the US with various offences relating to an alleged international investment scam , which, as described by the prosecutor, has all the hallmarks of a Ponzi scheme.
Promoter of AirBit Club Digital Asset Trading Program Charged for Acting as an Unregistered Broker by SEC
The
Securities and Exchange Commission (SEC) has charged
Karina Chairez, said to be a promoter of the AirBit Club investment scheme that targeted Latinx and Spanish-speaking communities, for acting as an unregistered broker.
The SEC notes that it previously brought similar charges against two other promoters of AirBit Club, Cecilia Millan and Margarita Cabrera, who allegedly solicited investors and promised investors returns through a purported digital asset trading program and from the recruitment of others.
The SEC’s complaint alleges that Chairez solicited investors for AirBit Club, including through social media platforms and in-person meetings, without registering with the Commission.
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