SEC sues Texas man for alleged fraudulent AI crypto trading bot scheme
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The SEC has accused Texas man Nathan Fuller of allegedly raising $12.3 million through a fraudulent AI crypto trading bot, promising returns of up to 100%. Fuller is accused of misappropriating $6.2 million for personal use, using $5.5 million for payments resembling a Ponzi scheme, and allocating only 3% of the funds for crypto trading. He also deceived investors by forging statements and using AI-generated letters to conceal losses.
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