Praetorian Group CEO Sentenced to 20 Years for $200M Bitcoin Ponzi Scheme

TLDR: Praetorian Group CEO Ramil Palafox received 20-year sentence for operating $200M Bitcoin Ponzi scheme from 2019 to 2021.  Over 90,000 investors worldwide lost at least $62.7M in the fraudulent cryptocurrency operation.  Palafox promised daily returns of 0.5% to 3% but paid investors with their own or others’ money.  CEO spent millions on 20 luxury [...]

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