SEC sues multiple entities, alleging they used WhatsApp and other platforms to defraud investors of at least $15 million
SEC Charges Multiple Entities in Fraud Schemes Totaling at Least $15 Million That Used WhatsApp and Other Platforms to Lure Investors
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SEC sued Cryptoaiml Ltd., Cryptoaiml Capital Foundation, TSAI Pro Ltd. and TSAI Capital Foundation, alleging that they carried out investment fraud through WhatsApp, websites and other platforms, misappropriating more than $12.5 million and $2.8 million, respectively.
SEC disclosed specific tactics including building trust through WhatsApp, fabricating regulatory credentials and continuing to solicit funds by charging upfront fees before withdrawals, making it easier to identify similar investment scams.
Source:SEC — Press releases · sec.gov