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Cryptocurrency broker appears to be engaged in fraud against California consumers

Dec 30, 2022

The California Department of Financial Protection and Innovation (DFPI) has received a complaint from a California resident regarding a crypto investment.

The victim was contacted by “George” about a cryptocurrency investment, promising that if she invested $250,000 and the company reached the investment goal, the victim could qualify for seven Etherum tokens. Not only did the victim lose the $250,000, but the scammers were able to steal another $40,000 from the victim’s wallet. Scammers then told the victim she needed to invest another $310,000 by a certain date to get their money back. The company operated a website at

This appears to be what is commonly called an “Advance Fee scheme,” which can take many forms, as discussed here: This also appears to be what’s known as a Romance Scam, which is described here:

The DFPI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services.  To check whether an investment or financial service provider is licensed in California, consumers may contact the Department for questions or inquiries at or call toll-free at (866) 275-2677.  If a consumer believes a person or company has violated state law or acted improperly regarding a consumer financial product or service, they may file a formal complaint with the DFPI at

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Last updated: Dec 30, 2022 @ 9:59 am