Texas Man Held Liable for $12.5 Million Crypto Ponzi Fraud

- Texas resident Nathan Fuller held personally responsible for $12.5 million fraud. - Default judgment confirms Fuller’s liability for creditor claims and debts. A court held Nathan Fuller, a Texas resident, personally liable for $12.5 million in debts after he admitted to orchestrating a cryptocurrency Ponzi scheme through his company, Privvy Investments LLC. During his bankruptcy case, Fuller attempted to evade repaying creditors; as a result, the U.S. Trustee Program accused him of concealing assets, falsifying documents, and providing false testimony. On September 10, 2025, The Block reported that the U.S. Bankruptcy Court for the Southern District of Texas issued a default judgment against Fuller. The court made its decision because Fuller failed to respond to allegations from the U.S. Trustee Program. This judgment holds Fuller fully accountable for the $12.5 million in unsecured debts and any future creditor claims. Fuller initially filed for Chapter 7 bankruptcy in October 2024, at which time he faced mounting lawsuits from investors who accused him of mishandling their funds. Detailed investigations revealed that Fuller used investor money to fund gambling trips, luxury purchases, and a house for his ex-wife. Under increased legal pressure, Fuller admitted to running the Ponzi scheme and confessed to fabricating documents and lying under oath during the proceedings, which resulted in a contempt finding. This case serves as a stark reminder of heightened regulatory efforts to tackle fraud within the cryptocurrency sector, which faces growing scrutiny due to its vulnerability to financial misconduct. According to CoinMarketCap, Bitcoin (BTC) is trading at $26,843 as of September 10 at 18:00 UTC, marking a 1.7% decline in its 24-hour trading volume.