Venezuelans Hit Gem-Tied Crypto Co. With $30M Ponzi Suit

Law360 (July 15, 2019, 2:12 PM EDT) -- A group of Venezuelan nationals filed a fraud suit in Florida federal court on Friday, claiming they were reeled into a $30 million Ponzi scheme with promises of lofty returns on investments in a diamond-backed cryptocurrency.

Three of the four individuals targeted in the complaint, Jose Angel Aman, Harold Seigel and his son Jonathan H. Seigel, are already facing an enforcement action from the U.S. Securities and Exchange Commission for allegedly using two diamond companies and a purported cryptocurrency business to defraud more than 300 investors.

Seven Venezuelans who say they have fled the country to "start a new life in...

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