A man in Texas suspected of cryptocurrency Ponzi scheme filed for bankruptcy exemption has been rejected

Nathan Fuller admitted to operating a $12.5 million crypto Ponzi scheme through Privvy Investments LLC, hiding assets and forging records, and a Texas court dismissed his bankruptcy filing. Legal experts stress that bankruptcy cannot be a safe haven for cryptocurrency fraud, and U.S. trustee Kevin Epstein said fraudsters cannot find shelter in bankruptcy courts. Although the court has extensive power to track and recover assets worldwide, experts warn that it is unlikely to be fully recovered if funds are used for luxury goods or transferred overseas.