SEC Charges Entities for Defrauding Investors via WhatsApp and Facebook Scams
The Securities and Exchange Commission (SEC) has filed charges against multiple entities involved in defrauding retail investors through online scams. These groups, including Cryptoaiml Ltd., Cryptoaiml Capital Foundation, TSAI Pro Ltd., and TSAI Capital Foundation, allegedly operated from overseas and stole at least $15 million by posing as SEC-compliant investment firms. The fraudsters used WhatsApp group chats to build trust with investors through AI-generated trading signals and fake profits. Investors were lured into transferring their cryptocurrencies onto fraudulent platforms where no real trades occurred. When victims tried withdrawing funds, they faced fabricated account freezes requiring additional payments. In a similar scheme, TSAI Pro Ltd. promoted an AI trading bot on WhatsApp and Facebook, encouraging investors to recruit others for financial incentives. The SEC is urging the public to report such scams through its online portal.
