🥸 An 86-year-old American man will pay nearly $14 million for organizing a cryptocurrency pyramid scheme.

David Cagle from California set up a cryptocurrency Ponzi scheme. Along with two accomplices, from December 2017 to June 2022, they lured victims into the scheme. The scammers promised high, risk-free returns by using a trading bot. They assured users of a net profit of 20–100% within 30 days of investment.

⚠️ Cagle was ordered to pay $14 million and sentenced to a five-year probationary term. He is currently residing in a nursing home.