![\"SEC](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy1pbWFnZXMuY3RtZWRpYS5pby9tZWRpYS9hcnRpY2xlLWNvdmVycy9oaS1uZXhmdW5kYWktdGhlLWZiaXMtdHJhcC10b2tlbi1leHBsYWluZWQtMS5qcGc=.jpg\")
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The SEC charged Texas man Nathan Fuller with raising $12.3 million from 150 investors through a crypto fraud scheme built around fake AI trading bots.<\/p>\n
The Securities and Exchange Commission has charged a Texas man with running a crypto fraud scheme that raised $12.3 million from roughly 150 investors by falsely claiming to use AI-powered trading bots to generate guaranteed returns.<\/p>\n
Nathan Fuller, a resident of Cypress, Texas, operated the scheme through his company Privvy Investments, LLC, and under the assumed business name Gateway Digital Investments between at least October 2022 and mid-2024, according<\/a> to the SEC\u2019s complaint filed in the US District Court for the Southern District of Texas.<\/p>\n Fuller allegedly promised investors returns of 40% to 50% within 30 to 45 days, with some told they could make guaranteed profits exceeding 100% in as little as 21 days. To back up the pitch, he claimed investor funds were secured by a surety bond, insured by the \u00a0Federal Deposit Insurance Corporation (FDIC) and protected by a professional liability insurance policy. None of it was true, the SEC alleges.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n