U.S. SEC Charges Two Platforms With Defrauding Over $15 Million Using Fake AI Stock Trading

According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) filed two lawsuits against the platforms Cryptoaiml Ltd. and TSAI Pro Ltd. The complaints allege that the entities promoted fraudulent AI-driven stock trading schemes via social media group chats and falsely claimed regulatory oversight, luring hundreds of retail investors to contribute funds. The involved entities subsequently misappropriated the associated cryptocurrency and fiat currencies and transferred them to overseas accounts, resulting in investor losses exceeding $15 million.