A Texas man allegedly convinced 150 people that his AI-powered trading bots could double their money in three weeks. In reality, roughly $380,000 of the $12.3 million he raised ever touched a crypto exchange.
The Securities and Exchange Commission filed a complaint against Nathan Fuller in the US District Court for the Southern District of Texas, accusing him of running a textbook Ponzi scheme disguised as a cutting-edge AI trading operation.
The pitch vs. the reality
Fuller operated through his company Privvy Investments, LLC, incorporated in Wyoming in July 2023, and under the assumed business name Gateway Digital Investments. The scheme ran from at least October 2022 through mid-2024.
Fuller told investors his proprietary AI-driven trading bots could deliver returns exceeding 100% in as little as 21 days, or over 50% within 30 to 45 days. He framed the investments as low-risk, citing a supposed 3% stop-loss feature that would protect against downside.
