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Crypto Scammers Used Cash for Horse Riding, Gucci Trips: SEC (1)

May 21, 2019, 4:29 PMUpdated: May 21, 2019, 8:26 PM

Three men used multiple Ponzi schemes, one involving cryptocurrency, to take around $30 million from investors, the SEC said in a complaint unsealed May 20.

Jose Angel Aman, Harold Seigel, and Jonathan H. Seigel ran three Ponzi schemes in succession, starting a new one whenever the previous one ran out of new money, the Securities and Exchange Commission complaint in the U.S. District Court for the Southern District of Florida said.

Aman misappropriated about $10 million to “purchase horses and riding lessons for Aman’s adult son, pay Aman’s church and pastors more than $1.5 million,” and pay for Aman’s “shopping ...

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