The United States accuses 19 people of a $300 million pyramid scam involving 40,000 Latin cryptocurrency investors. The mastermind of the plot, Mauricio Chávez, presented himself as a cryptocurrency expert willing to teach the secret of his success to Latin investors.
In reality, he allocated most of the money to payments that gave credibility to the Ponzi scheme, his own investments (such as the purchase of houses, jewelry and a car) and personal expenses, including in hostess clubs.