Former Crypto CEO Sentenced to 20 Years in Prison Over Ponzi Scheme

Victims may qualify for restitution in the $200-million theft between 2019 and 2021 A federal judge in Virginia has sentenced Ramil Ventura Palafox, founder of Praetorian Group International, to 20 years in prison for running a large cryptocurrency Ponzi scheme. Prosecutors said the operation collected more than $200 million from investors between 2019 and 2021.

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