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Securities and Exchange Commission v. Natural Diamonds Investment Co., et al

  1. July 25, 2023

    SEC Injunction Bid In Ponzi Suit May Be Invalid, Judge Says

    A Florida federal judge on Tuesday rejected a consent judgment proposed by the U.S. Securities and Exchange Commission against diamond merchants and a cryptocurrency venture involved in a $30 million Ponzi scheme, calling the proposal "potentially unenforceable" under Eleventh Circuit precedent.

  2. March 22, 2021

    SEC Seeks $4.5M Judgment Against Ponzi Scheme Ringleader

    The U.S. Securities and Exchange Commission asked Friday for a final judgment of $4.5 million in disgorgement against the ringleader of a $30 million Ponzi scheme run through diamond merchants and a cryptocurrency venture.

  3. February 11, 2021

    SEC's $30M Ponzi Suit Takes Step Toward Victim Payments

    The U.S. Securities and Exchange Commission moved Thursday for the entry of a judgment in Florida federal court imposing a permanent injunction and monetary relief against three companies for their roles in an alleged $30 million Ponzi scheme, marking a significant step toward payments to victims.

  4. October 14, 2020

    SEC Deals For $4M Finalized In $30M Ponzi Scheme Suit

    A Florida federal court entered final judgments Tuesday on settlements worth more than $4 million in a U.S. Securities and Exchange Commission suit over an alleged $30 million Ponzi scheme operated by two diamond companies and a purported cryptocurrency business that targeted investors in the U.S. and Canada.

  5. July 06, 2020

    Receiver Accused Of Holding Up SEC Deal In Ponzi Suit

    Defendants in a U.S. Securities and Exchange Commission suit over an alleged $30 million Ponzi scheme told a Florida federal court Monday that a receiver for companies involved in the case is holding up their settlement with the government, but the receiver said he is just trying to do his job.

  6. May 21, 2019

    SEC Wins Asset Freeze In $30M Gem, Crypto Ponzi Scheme

    A Florida federal court granted the U.S. Securities and Exchange Commission's bid to shut down an alleged $30 million Ponzi scheme operated by two diamond companies and a purported cryptocurrency business targeting investors in the U.S. and Canada, the agency announced Tuesday.