June 23 (Cointime) - William Ichioka, a New York resident, has been charged by the CFTC, SEC, and USAO for operating a cryptocurrency Ponzi scheme called Ichioka Ventures. He promised investors 10% returns within 30 days and used new investors' funds to pay off existing customers, creating an illusion of profit.

Ichioka has pleaded guilty to charges of wire fraud and owes over $21 million to non-family investors and over $40 million to family members. He funded his personal expenses with investors' money and purchased luxury items.