Posted 2/4/2024, 12:45:43 AM
B.C. regulator accuses cryptocurrency exchange of $19 million Ponzi scheme
- B.C. regulator alleges cryptocurrency exchange operated as Ponzi scheme
- Companies and director accused of lying to customers about trading platform and misappropriating assets
- Allegedly transferred customer deposits to Einstein-controlled accounts and director's personal crypto wallets
- Further misappropriated funds for investments, operations, and payouts to some customers
- By July 2019, companies owed customers $19.2 million but had just $100,000 in assets