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.)
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