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U.S. Regulators Charge Church Ministers for Promoting Crypto Ponzi Scheme

The United States Securities and Exchange Commission (SEC) has brought a case against three alleged pastors for using their position to influence people into investing in a Ponzi scheme. Yesterday, a filing from the financial regulator accused three men — surnamed Frimpong, Jali, and Johnson — of running Ponzi schemes and encouraging investors to make financial commitments.  Capitalizing on Their Influence According to the report, the three men created two companies — named 1st Million and Small Partners. They operated these businesses between 2017 and May 2019, and fraudulently raised about $27 million from over a thousand investors. The allegations…

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