🚨🇺🇸 Court ruling of $1.1 million against crypto fraudster in America!
The U.S. Securities and Exchange Commission (SEC) has achieved a new legal victory by issuing a court ruling against Keith Cruz for $1.1 million after his involvement in a cryptocurrency fraud scheme involving a fake currency called Stemy Coin 💸⚖️
📌 In details:
• The federal court in Georgia issued the ruling on June 3, 2025
• Cruz did not respond to the lawsuit filed against him since August 2023
• The penalty included:
• $530,000 in illicit profits
• $51,000 in pre-judgment interest
• $530,000 in civil penalties
🚫 He has also been permanently barred from engaging in any financial or investment activities that violate securities laws in the future
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📉 The case in brief:
• The fraud occurred through the companies Four Square Biz and Stem Biotech
• It targeted over 200 investors, most of whom were from African American communities and churches
• Stemy Coin was promoted as being supported by stem cell technology, gold, and fake laboratories!
• The SEC confirmed that all partnerships and offerings were completely fraudulent
⚠️ This ruling comes at a time when the pace of crypto regulation has noticeably slowed during the current U.S. President Donald Trump's administration
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💡 The message is clear:
Fraud may retreat into the shadows, but it will not escape the law.
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