The U.S. Securities and Exchange Commission has filed a lawsuit against Texas resident Nathan Fuller, alleging he raised $12.3 million from about 150 investors through a fraudulent crypto investment scheme that falsely promised high returns from AI-powered trading bots.
The complaint, filed in the U.S. District Court for the Southern District of Texas, states that Fuller operated the scheme through Privvy Investments LLC from at least October 2022 through mid-2024. Investors were promised returns of 40% to 50% within 30 to 45 days, and in some cases more than 100% in less than a month, based on claims of proprietary AI bots conducting arbitrage trades.
