Tag - ponzi scheme

11Apr

Four ‘Datuks’ held, over RM3bil in assets seized or frozen in massive police op

PETALING JAYA: A large-scale operation against scams and money laundering has led to the arrest of four suspects with "Datuk" titles and the seizure or freezing of assets worth over RM3bil. Inspector-General of Police Tan Sri Razarudin Husain said they were among eight suspects aged 44 to 62 detained during Ops Northern Star on March 20. The...

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21Mar

Jury convicts IcomTech promoters in crypto ponzi scheme, faces 20 years

A New York District Court jury convicted two men associated with IcomTech, a company that presented itself as specializing in cryptocurrency mining and trading, of wire fraud conspiracy. The individuals, David Brend and Gustavo Rodriguez, now potentially face up to 20 years in prison for their involvement in what was revealed to be a “Ponzi” scheme. In a verdict delivered on...

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