Praetorian Group International CEO Ramil Ventura Palafox has pleaded guilty to running a $200 million Bitcoin Ponzi scheme, impacting over 90,000 investors worldwide. The U.S. Attorney’s Office for the Eastern District of Virginia revealed that Palafox promised daily returns of 0.5%-3% and used funds from new investors to pay earlier participants. Victims could face losses exceeding $62 million. Palafox, who faces up to 40 years in prison, has agreed to return $62,692,007 as part of his plea agreement. Sentencing is set for February 10, 2026.
PGI CEO Admits Guilt in $200M Bitcoin Ponzi Scheme
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