Why You Keep Falling for Ponzi Schemes & How to Finally Break Free?
Even with all the warnings out there, many people still fall for Ponzi schemes. Some even fall for them more than once. Why do people keep falling for the same trap?
CBEX Exposed as Ponzi Scheme, Thousands in Nigeria Affected
Thousands of Nigerians have been defrauded by CBEX, a crypto investment platform posing as a legitimate exchange. The scheme collapsed in April 2025, leaving users unable to withdraw funds.
BOTBRO Scam revealed?
In recent months, a growing chorus on social media—particularly on YouTube—has denounced BOTBRO as nothing more than an elaborate scam. Claims that this online trading platform is a fraud have now found a basis in a series of high-profile investigations by India’s Enforcement Directorate (ED). According to reports by ThePrint, the ED has identified Dubai-based venture capitalist Lavish Choudhary, also known as Nawab Ali and owner of an Abu Dhabi T10 cricket team, as the mastermind behind an investment fraud estimated at between Rs 500–600 crore in India.
Brazilian Man Charged in $290 Million Crypto Ponzi Scheme Affecting 126,000 Investors
A Brazilian man, Douver T. Braga, faces charges in a $290 million Ponzi scheme involving 126,000 investors, using Bitcoin in a fraudulent Trade Coin Club platform.
3-Day Online Scam Trap: Victims Lose $200K—Don't Be Next!
Scam syndicates are now exploiting fake online investment schemes, defrauding victims of millions within just three days. According to 2024 police data, online fraud cases surged by 29%, with losses exceeding RM1.57 billion. Non-existent investment scams alone saw an 80% increase, costing victims RM848.62 million.
CFTC Orders Mosaic to Pay Over $1 Million for Fraudulent Crypto Scheme
The U.S. Commodity Futures Trading Commission (CFTC) has recently filed a significant lawsuit against Mosaic Exchange Limited and its CEO, Sean Michael, alleging a fraudulent digital asset commodity scheme that occurred between February 2019 and June 2021.
Two Malaysians Sentenced for Running S$23M Pyramid Scheme in Singapore
Two Malaysian men have been sentenced in Singapore for orchestrating a S$23 million multi-level marketing (MLM) scheme that defrauded approximately 4,500 investors, including over 2,400 in Singapore.
Pastor Defrauded 1500 People in a $6M Ponzi Scheme
The U.S. Commodity Futures Trading Commission (CFTC) has filed a complaint against Francier Obando Pinillo, a pastor in Washington state, alleging his involvement in a $6 million cryptocurrency Ponzi scheme. The case accuses Pinillo of defrauding 1,500 individuals, many of whom were members of his Spanish-speaking congregation in Pasco, Washington.
Former Director of Courtenay House Sentenced to 11 Years for $180 Million Ponzi Scheme
Tony Iervasi, the former director of Courtenay House, has been sentenced to 11 years in prison by the Supreme Court of New South Wales for his role in orchestrating a $180 million Ponzi scheme.
SEC Charges Two Brothers in $60 Million Ponzi Scheme
The U.S. Securities and Exchange Commission (SEC) has taken decisive legal action against Jonathan Adam and Tanner Adam, accusing the two brothers of orchestrating a $60 million Ponzi scheme.
Celebrity Involvement in the OmegaPro Scam: Football Stars and Hollywood Icons Entangled
The OmegaPro scam, one of the most extensive financial frauds in recent history, has implicated not only its founders but also several high-profile celebrities, including renowned football players and Hollywood stars.
OmegaPro Forex Scam Founder Arrested in Turkey: The Fall of Andreas Szakacs
Turkish authorities have arrested Andreas Szakacs, the co-founder of OmegaPro, one of the world’s largest and most infamous online multi-level marketing (MLM) scams. Szakacs, who had been on the run since November 2022, was apprehended after a years-long international manhunt. His arrest marks a pivotal moment in the pursuit of justice for the millions of investors defrauded by the OmegaPro scam.
ALERT!! 200 Crore Investment Scam Happened in India
India, Thane police's Economic Offence Wing (EOW) arrested a main accused in a Rs 200 crore investment scam case that was uncovered last year. According to a police officer, the accused, Mahadev Jadhav, avoided capture by conversing with acquaintances via Wi-Fi rather than using a mobile phone.
Why Ponzi Schemes Thrive in the Online Trading Industry?
Among the various scams that plague these markets, the Ponzi scheme stands out due to its persistent and deceptive nature. Understanding why the Ponzi scheme model is so prevalent in forex and crypto scams is crucial for investors to protect their hard-earned money.
Crypto Scam Unveiled: $120M Penalty for Ponzi Scheme
An Illinois judge has ruled in favour of the U.S. Commodity Futures Trading Commission (CFTC), ordering Oregon resident Sam Ikkurty and his company, Jafia, LLC, to pay over $120 million, including restitution for victims of a scheme described by the CFTC as a "Ponzi"-like fraud.
Philippine SEC Warns Against TradeTech Asia, Automatrade, BFO Trading
The Philippine SEC warns the public about unregistered investment schemes from TradeTech Asia, Automatrade, BFO Trading, and others. Exercise caution and verify legitimacy.
Multimillion-Dollar FX Ponzi Scheme Unveiled by CFTC
The Commodity Futures Trading Commission (CFTC) recently took action against Darren Robinson and his Wyoming-based firm for orchestrating a fraudulent forex scheme, resulting in a hefty judgment of over $5.9 million in restitution and civil penalties.
How to Identity a Forex/Crypto Ponzi Scheme
Amid the vast opportunities of online trading, lurk hidden risks such as Ponzi schemes, deceptive practices promising high returns but often leading to financial ruin; as traders in the forex and cryptocurrency trading industry, it's imperative to remain vigilant and equipped with knowledge to identify and avoid such schemes.
Being Deceived Over and Over Again, I No Longer Trust MagKing Forex
This platform is a Ponzi Scheme, please stay away!
Who is Harry Markopolos？ Bio, age, family, and key positions
He's an accounting expert who helped blow the lid off Bernie Madoff's notorious Ponzi scheme, and now his sights are set on General Electric.
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