[U.S. Judge Sentences PGI Founder to 20 Years in Prison for Alleged $200 Million Bitcoin Ponzi Scheme] According to News.bitcoin, a U.S. judge has sentenced 61-year-old Ramil Ventura Palafox, founder of Praetorian Group International (PGI), to 20 years in prison for orchestrating a global Ponzi scheme through his company, defrauding over 90,000 investors with a total amount exceeding $201 million. Palafox, who holds dual citizenship in the United States and the Philippines, served as PGI's chairman and CEO, promoting the company as a Bitcoin trading giant. Palafox promised daily returns ranging from 0.5% to 3% to attract investors. However, PGI's Bitcoin trading operations were far from capable of generating such high profits. Instead, investors' funds were recycled to pay returns to earlier participants.