PGI Global
A multi-level-marketing firm led by Ramil Ventura Palafox that claimed AI-powered Bitcoin/forex trading with daily returns up to 3%. Per DOJ/SEC it was a Ponzi: 90,000+ investors put in $201M+; net losses ~$62.7M. Palafox was sentenced in 2026 to 20 years.
Also known as: PGI Global, Praetorian Group International, Ramil Palafox, Ramil Ventura Palafox
Summary
Praetorian Group International (PGI Global) was a multi-level-marketing firm led by Ramil Ventura Palafox that claimed to run AI-powered Bitcoin and foreign-exchange trading, promising daily returns of up to 3%. The DOJ and SEC said it was a Ponzi scheme. [1][2]
Scale and outcome
From late 2019 to 2021, more than 90,000 investors put in over $201 million (including ~8,198 BTC); the DOJ put net investor losses at about $62.7 million. Palafox misappropriated tens of millions for Lamborghinis, homes, and luxury goods. He was convicted of wire fraud and money laundering and sentenced in February 2026 to 20 years in prison; the SEC pursued a parallel civil case. [1][2][3]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (3)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.