According to the US Securities and Exchange Commission (SEC), the SEC has sued Texas resident Nathan Fuller, accusing him of committing cryptocurrency trading fraud through entities such as Privvy Investments, raising $123 million from approximately 150 investors. The SEC stated that Fuller promised a return of over 0.4-0.5 within 30 to 45 days and a maximum return of over 100% within 21 days, but the AI trading robot did not operate as advertised. He misappropriated at least $6.2 million for personal expenses and used $5.5 million for Ponzi scheme payouts, while falsifying account statements to mislead investors.
