[Tennessee Man Indicted on 11 Charges for Running a Multi-Million Dollar Cryptocurrency Ponzi Scheme] According to Decrypt, the U.S. Department of Justice announced that a Tennessee man has been indicted on 11 charges by federal authorities for allegedly operating a cryptocurrency Ponzi scheme through his company, Star Credit Holdings, between 2020 and 2024. He lured investors with false promises of guaranteed returns, used funds from new investors to pay off earlier investors, defrauded investors out of millions of dollars, and misappropriated over $1.9 million for himself and his family. He is currently facing charges including wire fraud, money laundering, and filing false tax returns. If convicted, he could face decades in federal prison.