SEC Charges BG Wealth and DSJ Exchange Over Alleged $130M Crypto Fraud
Edited by Steinar Vigdel Kolnes, Editor, Oslo
The SEC alleges BG Wealth and DSJ Exchange promised risk-free trading profits and falsely claimed regulatory approval, with investor losses exceeding $100 million.
The U.S. Securities and Exchange Commission has charged BG Wealth and DSJ Exchange in connection with an alleged $130 million cryptocurrency fraud, according to The Defiant.
The regulator alleges the firms attracted investors by presenting trading returns as risk-free. Investors lost more than $100 million, the agency says.
The SEC also alleges the firms used false filings to portray their operations as approved by the regulator. The claims are allegations, not findings of liability.
Source: The Defiant
