Wu learned that a federal grand jury in the Western District of Tennessee has indicted Misam M. Abidi, a 47 year old man, on charges of operating a Ponzi scheme through the cryptocurrency investment company Star Credit Holdings from 2020 to 2024, allegedly defrauding millions of dollars from investors across the United States. The indictment alleges that Abidi attracted investment by promising high returns, fabricating reserves, and exaggerating the size of managed assets, and provided false account statements to investors, paying returns to old investors with funds from new investors. In addition, it is also suspected of assisting investors in investing with loan funds, forging relevant documents, misappropriating over $1.9 million in investor funds, and concealing related income to evade taxes. Abidi is charged with 11 counts including telecommunications fraud, unlicensed fund transfer services, assisting in submitting false tax forms, and money laundering. If convicted, one can face up to several decades of imprisonment. https://(wublock123.com)/news/us-man-charged-for-running-crypto-ponzi-scam-millions-stolen-62696