In the complaint, the SEC stated, “No such pre-funded pension plan existed, and no payment of promised returns or repayment of any investors’ investments has occurred.”
Since 2015, over $2 million in retirement investments was paid by 847 members of a Deaf community. He allegedly defrauded around 2,200 in the United States. He also allegedly victimized more investors in 45 countries.
The SEC alleged that Karlsson raised $3.5 million worth of Bitcoin and other digital assets that were transferred by investors to EMS and other digital asset
payment processors such as Perfect Money and C-Gold from December 2017 to June 2019. He allegedly used an estimated $1.5 million to purchase real estate in Thailand and for personal expenses to fund his own lifestyle. None of the money appears to be invested as promised to investors.
SEC aims to protect the vulnerable
SEC New York Regional Office Director Richard Best said “We are committed to fighting securities fraud that targets our country’s most vulnerable communities.”
