SEC charges Texas man with $12.3M crypto fraud using fake AI trading bots

[_act_]

This is the most important part I want you to read:

Fuller allegedly promised investors returns of 40% to 50% within 30 to 45 days, with some told they could make guaranteed profits exceeding 100% in as little as 21 days.

To back up the pitch, he claimed investor funds were secured by a surety bond, insured by the  Federal Deposit Insurance Corporation (FDIC) and protected by a professional liability insurance policy. None of it was true, the SEC alleges.

First of all, why an investor not make investigation to know if the money he wants to invest is truly secured by a surety bond, insured by the  Federal Deposit Insurance Corporation (FDIC) and protected by a professional liability insurance policy? If they have done this, probably they would have reported the scammer called Nathan Fuller.

Secondly, the scammer said investors can make 100 interest within 21 days, or at least 40% to 50% within 30 to 45 days. Is that not an obvious scam?

Why are people foolishly investing like this.

[Son Of Blockchain (SOB)]

 For someone who understands crypto investment but still decided to risk on it, the decision was lead by greed but for someone who doesn't then I'll say it's ignorance, they were not specific on the particular coin but lets say it's Bitcoin and you're guaranteed 21 days return with huge percentage, it would be silly for a Bitcoin investor to fall for such, which is why I think it's greed.
 However ignorant people would believe most of the things they come across, someone that's not good at fact checking things would gladly give it a trial thinking they've seen a sure means of getting more money through crypto investment. Those are the set of people scammers prey on, greedy and ignorant people.

[HansalScripts]

Yeah, people get greedy and skip the basic checks. 40% in 30 days? That’s screaming “scam.” But I get it—hope makes you blind sometimes. Just gotta remember: if it sounds too good to be true, it probably is. Always Google the person and the claims first.

[rat03gopoh]

Beginner investors today should at least gain advanced insight into the techniques used by scammer to claim collaboration with XYZ authorities, ABC companies, etc., even if they present evidence that appears genuine. The problem is, all of this can be fabricated in seconds with super-sophisticated resources.

A basic warning: there are no fixed investment returns, even if the president offers them.

[Odohu]

I have always had my reservation about trading bots because most of them are scam. If a trading bot is genuine and profitable, the owner will not release it to the public instead he will guard it jealously because that is money printing machine. I have falling into scam of someone pretending to be a trading with a profitable bot and he showed fake screenshot bearing huge profits every other day. I ignored the red flags, which were obvious, and the rest is history. I will not recommending subscribing to trading bots for the safety of the investor.

[Amphenomenon]

Why are people foolishly investing like this.

I remember having discussion about why there are still victims of a well known or obvious scams and NotATether said because people are foolish and this is another aspect of foolish people but this time foolish investors.

In a world where scams are common believing things that are too good to be trur shoe for a fact such individuals are having a sense of foolishness. I wonder how some individuals see Ai's?
Greed is snother factor, nothing should be believed or accepted until research as been made and this is from a trusted source and criticism or comments should never be ignored.