Texas Man Charged with $12.3M Crypto Fraud Using AI Trading Bots

The Securities and Exchange Commission has charged Nathan Fuller, a Texas resident, with operating a crypto fraud scheme that raised $12.3 million from 150 investors.

According to the SEC's complaint, Fuller claimed to use AI-powered trading bots to generate guaranteed returns of 40% to 50% within 30-45 days for his company Privvy Investments, LLC and Gateway Digital Investments.

The scheme allegedly used fake account statements and fabricated correspondence from fictitious entities to keep investors invested. The SEC is seeking permanent injunctions and civil penalties against Fuller.