The brothers allegedly lured victims with the promise of up to 13.5 percent monthly returns, falsely asserting that one had developed a sophisticated trading bot.
The SEC has charged Jonathan and Tanner Adam with a $60 million Ponzi scheme, stating they misled over 80 investors about their crypto trading operations.
Tanner Adam allegedly diverted investor funds to construct a luxury condominium in Miami, while Jonathan misappropriated at least $480,000 for recreational vehicles.
The SEC is pursuing permanent injunctions and penalties, highlighting Jonathan Adam's failure to disclose his past convictions for securities fraud to potential investors.
[
Collection
]
[
|
...
]