The SEC Goes After Modern Money Team for a Potential $12 Million Scam
For the Modern Money Team, or MMT, it seems the allegations of fraud and misleading investors have some merit to them after all. Not only did the team potentially scam $12 million, but they also misappropriated funds and lied to investors.
Roughly 200 people invested in the mining scheme, whereas the MLM attracted around 1.800 users. According to the SEC, at least one individual misappropriated investor funds, whereas the other was blatantly running a Ponzi scheme.