SEC sues Texas man over $12.3 million alleged crypto scheme built on fake AI trading bots
60-second summary
The SEC is suing a Texas man, Fuller, over a $12.3 million alleged crypto scheme built on fake AI trading bots. Fuller allegedly diverted $6.2 million for personal use and $5.5 million for Ponzi-like payments, while only 3% of funds were used for actual crypto trading.
Fuller allegedly diverted $6.2 million for personal use and $5.5M for Ponzi-like payments; only 3% of funds went to crypto trading.