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    1. coinfeeds-bot on

      tldr; The US SEC has charged John Woods, a Georgia resident, and two entities he controls—Southport Capital and Horizon Private Equity III LLC—with operating a $110 million Ponzi scheme. The scheme allegedly defrauded over 400 investors, including elderly retirees, across 20 states. Investors were misled into believing their funds were safe and would yield steady returns, but the SEC claims the returns were paid using other investors‘ money. A court has frozen the defendants‘ assets, and investigations are ongoing.

      *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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