SEC Charges PGI Global Founder in Massive Fraud Scheme
The U.S. SEC accused PGI Global Founder Ramil Palafox of leading a fraudulent scheme to collect $198 million from global investors. The SEC's charges highlight the misappropriation of approximately $57 million in investor funds.
Devdiscourse News Desk | Washington DC | Updated: 23-04-2025 02:59 IST | Created: 23-04-2025 02:59 IST
- Country:
- United States
The U.S. Securities and Exchange Commission announced Tuesday that Ramil Palafox, founder of PGI Global, has been charged with orchestrating a fraud scheme that amassed $198 million from investors worldwide.
The SEC's charges focus on the alleged misappropriation of over $57 million of investor funds.
(With inputs from agencies.)
ALSO READ
National Herald case: ED moves Delhi HC against trial court order refusing to take cognisance of its charge sheet against Sonia, Rahul Gandhi.
Bribery Fallout: Civil Court Clerk Granted Bail Amidst Corruption Charges
Beenu Arora: Leading the Charge in Cybersecurity Innovation
Holiday Cheer Eludes Investors Amid Market Turbulence
ByteDance's Strategic Dance: TikTok's U.S. Operations Secure New Investors
Google News