Ramil Palafox allegedly defrauded 90,000 investors of 200 million USD through PGI Global by misusing funds intended for Bitcoin and forex trading, employing Ponzi-like methods.
Investors were recruited through lavish events and deceptive claims of an AI trading platform, while funds were diverted to personal luxuries instead of legitimate trading.
The SEC and federal prosecutors have filed charges, seeking asset forfeitures including luxury cars and cash, as Palafox faces serious legal repercussions for his actions.
Leave a Reply