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May 11, 2020 by |

California and San Francisco Whistleblower Attorneys: Cryptocurrency Ponzi Schemes

ATTORNEY NEWSLETTER

Commodity Futures Trading Commission Wants Whistleblower Help

Blowing The Whistle On Fraud

Millions Lose Money To Ponzi Schemes

Millions of people lose money every year to Ponzi schemes, which can include lawful investments like securities, commodities, and virtual currencies.  The U.S. Commodity Futures Trading Commission (CFTC) rewards individuals who provide original information to the CFTC about Ponzi schemes or other fraudulent trading.  If you have credible information of any fraudulent commodity or virtual currency trading  call the CFTC whistleblower attorneys at Evans Law Firm, Inc. today at (415)441-8669.  (Commodities include gold and other precious metals and irtual currencies include Bitcoin, Ethereum, Ripple, Litecoin, Libra and Tether.)

Just last week, according to authorities, one Ponzi trading scheme defrauded more than 90 investors, including many seniors, out of millions allegedly spent by the scammers on private jets and casino gambling instead of investments in virtual currencies. The CFTC urges the public to look for these signs of a Ponzi scheme before ever investing any money in an “opportunity”:
• “Guaranteed” high investment returns. Claims such as “risk-free”, “zero risk”, “absolutely safe”, and “guaranteed profit” are hallmarks of a fraud.
Complicated jargon and language that is difficult to understand. Fraudsters often use complex new technologies to perpetrate investment schemes.
Unlicensed sellers. Many investment frauds involve unlicensed individuals or unregistered firms. Check license and registration status on Investor.gov.
Sounds too good to be true. If the investment sounds too good to be true, it probably is.
Unsolicited offers. Exercise extreme caution if you receive an unsolicited communication—meaning you didn’t ask for it and don’t know the sender—about an investment opportunity.
Pressure to buy RIGHT NOW. Fraudsters may try to create a false sense of urgency to get in on the investment. Take your time researching an investment opportunity before handing over your money.

Contact Us

If you have credible information of gold, commodities, securities, banking, or tax fraud in California call the Evans Law Firm whistleblower attorneys today at (415)441-8669 and we can help. Our whistleblower attorneys represent whistleblowers in CFTC cases, Securities and Exchange Commission (SEC) cases for securities fraud (related to stocks, bonds, private placements and variable annuities for example), banking fraud under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (“FIRREA”), Internal Revenue Service (IRS) cases for tax fraud, particularly offshore tax avoidance schemes, and False Claims Act cases against corporations defrauding the government for payments or reimbursements. The government keeps whistleblower identity confidential as long as possible under the law and whistleblower laws protect whistleblowers from retaliation by their employers. Our lawyers represent whistleblowers in their underlying whistleblower actions and also in any lawsuit for wrongful termination or other retaliation by their employer.

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