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CFTC Charges Man for Defrauding Investors of $21M in Crypto Ponzi Scheme

The United States Commodity Futures Trading Commission (CFTC) has charged William Koo Ichioka for defrauding investors of tens of millions of dollars by claiming to be a digital asset and foreign exchange (forex) trader. The CFTC filed a complaint against Ichioka in the U.S. District Court for the Northern District of California, accusing him of mishandling over $21 million of investor assets and using new customer funds to create the illusion of profits in a Ponzi scheme. The commodities regulator said Ichioka solicited millions from more than 100 individuals and entities, promising to engage in forex trades through a commodity interest pool operating as Ichioka Ventures.

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