A Tennessee resident has been charged by federal prosecutors for allegedly operating a crypto Ponzi scheme that misused investor funds. Misam Abidi, 47, of Nolensville, is accused of diverting over $1.9 million from investors to himself and family members.
The indictment alleges Abidi operated Star Credit Holdings, a crypto investment company, and made false claims about returns, reserves, and assets under management. Prosecutors claim he attracted investors through promises of high returns and financial protections.
Abidi is also accused of helping investors obtain personal loans that provided additional funds for the operation. The indictment states that one affidavit falsely claimed an investor's identity had been stolen.