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A Texas court has denied bankruptcy discharge to Nathan Fuller, who admitted to running a $12.5 million crypto Ponzi scheme. The ruling demonstrates that bankruptcy courts won’t protect crypto fraudsters from their debts. Legal experts warn that while this sets an important precedent, full recovery for victims remains unlikely.
- Court found Fuller concealed assets, falsified records, and admitted to running a Ponzi scheme through his crypto investment firm
- U.S. bankruptcy courts possess broad powers to pursue assets globally and compel records from crypto exchanges and wallet custodians
- Legal experts note that while traceability of crypto assets has improved, recoverability remains challenging when funds are spent or moved abroad
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