Investors Accuse Crypto Trio Of $35M Ponzi Scheme

Law360 (April 2, 2020, 3:55 PM EDT) -- Three purported cryptocurrency traders scammed more than 100 investors, many of them doctors, in an alleged Ponzi scheme that netted more than $35 million, an entity created on behalf of the investors claimed Wednesday in Florida federal court.

Q3 Investment Recovery Vehicle, which launched the now-federal securities fraud action in state court in March, accused the trio of orchestrating the alleged ploy, claiming they lured victims with bogus descriptions of a winning trading formula.

The recovery vehicle names Wells Fargo Advisors alum James Seijas of New Jersey; former New York Stock Exchange institutional broker Michael Ackerman of Ohio; and surgeon Quan...

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