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SEC Alleges Firm Had a Crypto-Pyramid Scheme

May 30, 2019 by Louis Chunovic

SEC Alleges Firm Had a Crypto-Pyramid Scheme

The SEC has filed a civil injunctive action against the alleged perpetrator of a multimillion-dollar pyramid scheme. The SEC claims that, from January 2017 through March 2018, San Clemente, Calif., resident Daniel Pacheco enticed would-be cryptocurrency investors by selling so-called instructional packages that provided e-commerce “lessons,” raising more than $26 million in the process. In… Read More >>

Filed Under: Data Management, Operational Risk, Ops Automation, Risk Management, General Interest, Governance, Diversity, Equity, and Inclusion (DEI), FinTech Trends, Back-Office, Blockchain/DLT, Standards, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Derivatives, Regulatory Compliance, Regulatory Reporting, Industry News Tagged With: Blockchain technology, cryptocurrency, Daniel Pacheco, Digital Assets, innovation, IPro Network, IPro Solutions, MLM, pyramid scheme, SEC, securities, unregistered offering

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