US SEC charges PGI Global founder with $198 million crypto fraud scheme

US SEC charges PGI Global founder with $198 million crypto fraud scheme

The U.S. Securities and Exchange Commission said on Tuesday it charged PGI Global Founder Ramil Palafox for orchestrating a fraudulent scheme that raised about $198 million from investors worldwide.The SEC added that the charges stem from the misappropriation of more than $57 million of investor funds.

Reuters