The US Bankruptcy Court for the Southern District of Texas recently rejected the bankruptcy exemption request of local resident Nathan Fuller, whose debts exceeding $12.50 million and future creditor claims must be fully borne.
It is reported that Fuller, who ran a cryptocurrency investment company Privvy Investments LLC, is suspected of using a "Ponzi scheme" to attract funds and use investors' money to buy luxury goods, pay for gambling trips, and buy nearly $1 million real estate for his ex-wife. In October 2024, after being sued by investors, Fuller filed for Chapter 7 bankruptcy protection in an attempt to forgive debts.
The United States Trustee Program (USTP) investigation found that Fuller concealed assets, falsified documents, made false statements, and was even held in civil contempt for refusing to comply with court orders in the bankruptcy case. Later, he pleaded guilty to running a "Ponzi scheme" and interfering with the bankruptcy process. Because Fuller did not respond to USTP's allegations, the court first issued a default judgment in August this year, and now officially rejected his request for debt relief.
Texas man runs cryptocurrency "Ponzi scheme", 12.50 million dollar debt bankruptcy exemption rejected
2025-09-10 21:17:52
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