Today on 5th January 2023, six individuals were indicted for their alleged involvement in a fraudulent investment scheme called CoinDeal, which is believed to have raised over $45 million from the sale of unregistered securities to thousands of investors worldwide. The individuals charged include Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, and others.

CoinDeal was a cryptocurrency trading platform that promised high returns to investors through the sale of its own digital tokens. However, the scheme was reportedly a scam and the promised returns were not delivered. The individuals charged are accused of defrauding investors and selling unregistered securities in violation of federal law.

This case serves as a reminder to always be cautious when considering investments, especially in the rapidly-growing and unregulated world of cryptocurrency. It is important to thoroughly research any investment opportunity and to only invest what you can afford to lose. If an offer seems too good to be true, it probably is. do your own research before moving further. If you have any doubts or concerns, it is always best to seek out the advice of a financial professional or consult with the appropriate regulatory agencies.

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