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The US Securities and Alternate Fee (SEC) has charged a former New Jersey State Correctional Police Officer, John A. DeSalvo, for allegedly working a fraudulent crypto scheme that preyed on regulation enforcement personnel. In line with the SEC, DeSalvo allegedly promised excessive returns via investments in a fictitious digital foreign money, however as a substitute used the funds for his private bills and to repay earlier traders. The SEC has charged DeSalvo with violating the antifraud provisions of federal securities legal guidelines and seeks to impose monetary penalties and everlasting injunctions in opposition to him.
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