Regulator says Argyle Coin and its principal violated securities laws

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US regulators have halted an alleged $30 million Ponzi scheme that targeted roughly 300 investors and involved a diamond-related cryptocurrency business, the Securities and Exchange Commission said.

The SEC said Tuesday that Argyle Coin, a Palm Beach, company that says it offers investment in cryptocurrency backed by valuable diamonds, and its principal, Jose Angel Aman, were using investor funds to run a Ponzi scheme, according to a statement from the agency.

SEC stops alleged Ponzi scheme involving diamond-backed cryptos

Mengqi Sun

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