The U.S. Securities and Exchange Commission urged a federal judge on Wednesday to appoint a trustee to manage the Woodbridge Group of Companies, a bankrupt property developer the regulator accused of being a $1.2 billion Ponzi scheme. Woodbridge filed for bankruptcy in December and weeks later the SEC sued to freeze its assets, accusing it […]

Trendon Shavers pleaded guilty to defrauding investors out of millions of dollars in what U.S. officials are calling a first-of-its-kind Ponzi scheme involving the bitcoin virtual currency. Shavers, 33, was accused of raising 764,000 bitcoins by promising returns as high as 3,641 percent through his Bitcoin Savings and Trust company. He instead allegedly used the […]