U.S. prosecutors have charged a Canadian citizen, Nathan Gauvin, with orchestrating a fraud scheme that raised more than $42 million through false claims targeting individual users on the messaging app Discord while claiming to have invested the funds in traditional finance and cryptocurrencies.
He used most of the money for investors to withdraw cash, buy luxury jewellery and pay off credit cards, and also fraudulently obtained 800,000 credit from fintech companies for personal expenses. From May 2022 to October 2024, Gauvin and others lured investors to invest in Gray Digital Capital Management Inc. and its fund, Gray Fund, claiming to offer clients the opportunity to invest in a "fused TradFi and DeFi" fund. He lied about his qualifications, the company's asset performance, produced doctored statements, and once claimed that the Gray Fund returned 4,384%. Authorities arrested Gauvin in the UK on Wednesday. His personal lawyer could not be immediately identified. The Securities Exchange Commission (SEC) also filed similar securities fraud charges, alleging that Gauvin also lied to the regulator and submitted false documents when it began its investigation.
The United States has accused a Canadian man of orchestrating a fraud scheme on Discord involving more than $42 million through a crypto investment scheme
2025-12-11 02:30:09
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