Overview
- Filed December 22 in the District of Colorado, the SEC complaint targets Morocoin Tech, Berge Blockchain Technology, Cirkor, and four investment-club entities AI Wealth, Lane Wealth, AI Investment Education Foundation, and Zenith Asset Tech Foundation.
- The scheme allegedly ran from January 2024 to January 2025, recruiting victims through social media ads and WhatsApp “investment clubs” staffed by faux “professors” touting AI-generated tips.
- Regulators say no real trading occurred and that fabricated Security Token Offerings tied to fictitious companies were used to mimic legitimate investments.
- When investors tried to withdraw, the platforms demanded upfront “taxes,” fees, or deposits and cited bogus regulatory freezes, a pattern the SEC highlighted in a parallel investor alert.
- The SEC traced at least $7.4 million in crypto and $6.6 million in fiat losses routed through U.S. accounts and overseas wallets in China, Hong Kong, and Indonesia, as the Justice Department separately seized about $8.5 million in Tether linked to victims.