2025-12-22, 3:18:05 p.m.
Washington, D.C. — December 22, 2025 — Leads & Copy — The Securities and Exchange Commission (SEC) has filed charges against Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., and Cirkor Inc., along with investment clubs AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Ltd., and Zenith Asset Tech Foundation, alleging a fraud that bilked retail investors out of more than $14 million.
According to the SEC complaint, the defendants operated an elaborate investment confidence scam targeting U.S. retail investors. The scheme, which ran from at least January 2024 to January 2025, involved luring victims through social media ads and building trust within group chats on WhatsApp. Fraudsters posed as financial professionals and enticed victims with promises of profits derived from AI-generated investment tips, ultimately convincing them to invest in fake crypto asset trading platforms.
The SEC alleges that AI Wealth, Lane Wealth, AIIEF, and Zenith operated as investment clubs, soliciting investors to join via social media advertisements. Once trust was established, investors were directed to open and fund accounts on purported crypto asset trading platforms, namely Morocoin, Berge, and Cirkor. These platforms falsely claimed to possess government licenses. The investment clubs and platforms then allegedly offered “Security Token Offerings” supposedly issued by legitimate businesses. However, the SEC asserts that no actual trading occurred on these platforms, which were entirely fabricated. Furthermore, the Security Token Offerings and their purported issuing companies were nonexistent.
When investors attempted to withdraw their funds, the SEC alleges that the defendants further defrauded them by demanding advance fees. Ultimately, the defendants are accused of misappropriating at least $14 million from U.S.-based retail investors, funneling the funds overseas through a network of bank accounts and crypto asset wallets.
Laura D’Allaird, Chief of the Cyber and Emerging Technologies Unit, emphasized the prevalence of such investment scams targeting U.S. retail investors. She stated, “Fraud is fraud, and we will vigorously pursue securities fraud that harms retail investors.”
The complaint, filed in the United States District Court for the District of Colorado, charges the defendants with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC is seeking permanent injunctions and civil penalties against all defendants, as well as disgorgement with prejudgment interest against Morocoin, Berge, and Cirkor.
The SEC’s Office of Investor Education and Assistance has issued an investor alert cautioning investors about fraudsters using social media platforms and messaging apps to perpetrate scams. The SEC advises investors not to rely solely on information from group chats when making investment decisions and encourages them to utilize Investor.gov to verify the background of individuals offering or selling investments.
Contact:
Laura D’Allaird, Chief of the Cyber and Emerging Technologies Unit
Source: SEC
