The fear of missing out on the next big thing can cause people to make risky decisions.
KPRC 2 Investigates a Houston man accused of targeting the Latino community and people who are just trying to grow money for their families by investing in cryptocurrency. Our KPRC 2 Investigates team breaks down what federal officers say was a Ponzi scheme that cost some families their life savings.Federal investigators say Mauricio Chavez lived lavishly after swindling some 5,000 families out of more than $12 million.
“And you see people getting $20,000, $30,000 for a bonus for getting people in we’re like, it actually sounds pretty good,” said Rodriguez. “When everyone would get their return back, everyone who was part of the company would say, “Oh, why don’t you invest more? You’re gonna get it back. You’ve seen that you’ve gotten it back. Why not?’” said Illiana Calles, CryptoFX victim.
KPRC 2 Investigates massive fraud involving fake"investment workshop" scheme targeting people in the Latino community. In interest meetings about the group, participants were often shown piles of cash other people made. Then, they were asked to choose a package and start investing.
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