cryptobriefing.com
The US Securities and Exchange Commission has filed charges against Nathan Fuller of Cypress, Texas, alleging that he orchestrated a crypto asset investment scheme that raised approximately $12.3 million from about 150 investors.
Fuller allegedly marketed the program as an AI-driven, high-frequency crypto arbitrage operation capable of generating extraordinary returns.
According to the complaint, the Texas resident offered investment opportunities through Privvy Investments and related business names between October 2022 and mid-2024. He allegedly promised returns exceeding 40–50% within weeks and guaranteed profits of more than 100% within 21 days.
The SEC claims Fuller misrepresented the capabilities of his AI trading bots and falsely assured investors that their funds were protected by insurance and bonding arrangements.
Investigators further allege that Fuller diverted at least $6.2 million for personal use, used approximately $5.5 million to pay earlier investors, and distributed fabricated account statements and fake communications to conceal the scheme.
The SEC’s lawsuit, filed in federal court in Texas, charges Fuller with securities registration and anti-fraud violations under federal securities laws. The agency is seeking injunctive relief, disgorgement of alleged ill-gotten gains, interest, and monetary penalties.