U.S. Securities and Exchange Commission building. (Photo: Diego M. Radzinschi/ALM) SEC Charges Apex Partner Behind $852K Alleged Crypto Fraud
"This shows that individuals appear to be still using crypto as bait to lure investors into what are essentially old-fashioned get-rich-quick schemes," said Arlo Devlin-Brown, a partner at Covington & Burling.
September 11, 2024 at 12:24 PM
4 minute read
Cryptocurrency
What You Need to Know
- The U.S. Securities and Exchange Commission sued an investment fund manager in a federal district court in Alabama.
- Apex Financial Institute Pvt. Ltd. had at least $852,000 in crypto assets from approximately 70 domestic and international investors.
- An expert not involved in the matter said,
The U.S. Securities and Exchange Commission charged a private fund manager in a federal district court in Alabama with defrauding approximately 70 domestic and international investors from whom he raised at least $852,000 of crypto assets.
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