Crypto Platform “Head Trader” Pleads Guilty in $100 Million Ponzi Scheme
/The head trader of EmpiresX, a global cryptocurrency platform headquartered in Florida, pleaded guilty on September 8 in an alleged investment fraud that raised around $100 million for the company, according to the U.S. Justice Department. Joshua David Nicholas, 28, admitted to the securities fraud in which he and others at EmpiresX falsely claimed their business’ trading bot, which utilized artificial and human intelligence, mitigated risk and increased the chances of profitability on an investment.
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