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SEC Charges California Resident for Alleged $26 Million Crypto Pyramid Scheme
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SEC Charges California Resident for Alleged $26 Million Crypto Pyramid Scheme
The United States Securities and Exchange Commission (SEC) has initiated court proceedings against a California resident for allegedly operating a multimillion-dollar cryptocurrency pyramid scheme, according to a press release published on May 23. The SEC alleges Daniel Pacheco of conducting a fraudulent, unregistered offering of securities through two California-based companies, IPro Solutions LLC and IPro Network LLC, from January 2017 through March 2018.
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