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Australian, American charged with running crypto Ponzi scheme

Washington (AFP) – An Australian man and a US national have been charged in California with operating a cryptocurrency Ponzi scheme, the Justice Department said Tuesday. David Gilbert Saffron, 51, of Australia, and Vincent Anthony Mazzotta Jr, 52, of Los Angeles, are accused of defrauding victims of more than $25 million, the department said in a statement. They allegedly lured investors with promises of high-yield profits from cryptocurrency using trading programs that purported to employ an artificial intelligence automated trading bot. The investment programs operated under various names in…