Two brothers misled investors and misappropriated funds as they operated a $61 million Ponzi scheme involving the purported development of new crypto-related technologies, the SEC says in a new complaint in federal court.
Tanner Adam, Jonathan Adam, and their two companies, Triten Financial Group LLC and GCZ Global LLC, allegedly bilked more than 80 investors, the Securities and Exchange Commission says in a complaint filed Monday in the US District Court for the Northern District of Georgia.
“Of the $61.5 million of investor funds raised,” the agency says, "$53.9 million was either misappropriated or used to pay interest, pay finders ...
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