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

The Securities and Exchange Commission has charged Nathan Fuller, a resident of Cypress, Texas, with running a crypto fraud that raised $12.3 million from roughly 150 investors by falsely claiming to use AI-powered trading bots to generate guaranteed returns. Fuller operated the scheme through Privvy Investments, LLC and under the assumed business name Gateway Digital Investments between at least October 2022 and mid-2024.

He promised returns of 40% to 50% within 30 to 45 days and told some investors they could earn more than 100% in as little as 21 days. Fuller also claimed investor funds were secured by a surety bond, insured by the Federal Deposit Insurance Corporation and protected by a professional liability insurance policy — none of which, the SEC says, was true.

The complaint states Fuller’s proprietary AI-based trading bots did not function as represented.

United States, Cypress, Texas

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