According to an announcement from the U.S. Attorney for the Eastern District of Virginia, Praetorian Group International (PGI) CEO Ramil Ventura Palafox has pleaded guilty to charges including wire fraud and money laundering for operating a Bitcoin Ponzi scheme exceeding $200 million. Court documents show that Palafox lured over 90,000 investors worldwide with funds totaling over $201 million (including at least 8,198 BTC) by falsely advertising Bitcoin trading profits. Ultimately, investors suffered cumulative losses of at least $62.69 million. Palafox is scheduled to be sentenced on February 3, 2026, and could face up to 40 years in prison.