Ex-NJ Police Officer Charged in Crypto Fraud Targeting Law Enforcement!

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The US Securities and Exchange Commission (SEC) has charged a former New Jersey State Correctional Police Officer, John A. DeSalvo, for allegedly running a fraudulent crypto scheme that preyed on law enforcement personnel. According to the SEC, DeSalvo allegedly promised high returns through investments in a fictitious digital currency, but instead used the funds for his personal expenses and to pay off earlier investors. The SEC has charged DeSalvo with violating the antifraud provisions of federal securities laws and seeks to impose financial penalties and permanent injunctions against him.