The U.S. Securities and Exchange Commission (SEC) is charging a Texas resident in connection with an alleged multi-million-dollar crypto asset fraud scheme that raised approximately $12.3 million from about 150 investors.
According to SEC Litigation Release filed May 29, 2026, Nathan Fuller allegedly operated the scheme through Privvy Investments, LLC and related names including Gateway Digital Investments between at least October 2022 and mid-2024.
The SEC alleges Fuller solicited investors with promises of extraordinary returns tied to purported AI-driven trading technology.
He allegedly claimed that “proprietary AI-based trading bots” would conduct high-frequency arbitrage trading in crypto markets and that investors could see returns of 40–50% within 30 to 45 days, with “guaranteed profits exceeding 100% in as little as 21 days.”
The complaint further alleges those representations were false or misleading, and that Fuller’s trading systems “did not function as represented.”
Instead, the SEC claims Fuller misappropriated investor funds, using at least $6.2 million for personal expenses and approximately $5.5 million to make Ponzi-like payments to earlier investors in order to sustain the appearance of profitability.
The SEC also alleges Fuller reinforced the scheme by distributing fake account statements and fabricated correspondence from fictitious entities, along with false assurances that investor funds were secured or insured.
The SEC’s complaint charges Fuller with violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5.
The agency is seeking permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Alleged Fraudster Orchestrates $12,500,000 Crypto Trading Scheme, Uses Funds for Ponzi-Like Payments and Personal Expenses: SEC appeared first on The Daily Hodl.
The U.S. Securities and Exchange Commission (SEC) is charging a Texas resident in connection with an alleged multi-million-dollar crypto asset fraud scheme that raised approximately $12.3 million from about 150 investors. According to SEC Litigation Release filed May 29, 2026, Nathan Fuller allegedly operated the scheme through Privvy Investments, LLC and related names including Gateway
The post Alleged Fraudster Orchestrates $12,500,000 Crypto Trading Scheme, Uses Funds for Ponzi-Like Payments and Personal Expenses: SEC appeared first on The Daily Hodl. Scams, Hacks & Breaches, Crypto, fraud, News, scam, SEC
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.