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SEC charges four entities in $15M crypto and AI investment scams
The U.S. Securities and Exchange Commission (SEC) has filed lawsuits against four entities involved in two alleged investment scams that misappropriated more than $15 million from hundreds of investors. The schemes, promoted through WhatsApp and Facebook, utilized false claims of artificial intelligence (AI) capabilities to lure victims.
One scheme, involving Cryptoaiml Ltd. and its related foundation, allegedly defrauded investors of approximately $12.5 million by promoting fake AI-generated trading signals. The SEC claims the platform displayed fictitious profits and conducted no actual trading, while demanding additional fees when users attempted to withdraw funds.
The second scheme, involving TSAI Pro Ltd. and its related foundation, allegedly misappropriated roughly $2.8 million by offering nonexistent AI trading bots. These bots were marketed as tools to provide guaranteed returns, but the SEC alleges no such technology existed.
Both groups reportedly used fabricated documents, including falsified SEC certificates and Form D filings, to create a false appearance of regulatory oversight. David Woodcock, director of the SEC’s Division of Enforcement, stated that while methods varied, the goal was to promise outsized returns and claim legitimacy to steal investor money.
Entities
Cryptoaiml Ltd. · David Woodcock · Securities and Exchange Commission · TSAI Pro Ltd. · WhatsApp
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] No actual trading occurred on the platforms. www.brasilemfolhas.com.br · cryptobriefing.com · www.epochtimes.com
- [● 3 SOURCES] The SEC filed two separate lawsuits in the Southern District of New York against four entities. www.brasilemfolhas.com.br · cryptobriefing.com · www.epochtimes.com
- [● 3 SOURCES] The entities falsely claimed to be supervised by the SEC using fake regulatory documents. www.brasilemfolhas.com.br · cryptobriefing.com · www.epochtimes.com
- [● 3 SOURCES] The schemes used WhatsApp groups to recruit investors with promises of AI-powered trading returns. www.brasilemfolhas.com.br · cryptobriefing.com · www.epochtimes.com
- [● 3 SOURCES] TSAI Pro Ltd. and its associated foundation allegedly swindled over $2.5 million. www.brasilemfolhas.com.br · cryptobriefing.com · www.epochtimes.com
- [● 3 SOURCES] Cryptoaiml Ltd. and its associated foundation allegedly swindled over $12.5 million. www.brasilemfolhas.com.br · cryptobriefing.com · www.epochtimes.com