90,000 Investors Affected: Are You Eligible for Restitution?

If you invested in Praetorian Group International (PGI Global) between 2019 and 2021 and suffered losses, federal authorities have confirmed the company operated a large scale crypto Ponzi scheme. Victims may qualify for restitution through official government channels.
This guide explains the SEC lawsuit, DOJ conviction, confirmed losses, and what PGI investors should do next.

What Was Praetorian Group International (PGI Global)?

Praetorian Group International, commonly branded as PGI Global, marketed itself as a cryptocurrency and foreign exchange trading company promising daily returns of 0.5% to 3% through bitcoin arbitrage and automated trading strategies.
The company operated primarily from December 2019 to October 2021.
Federal investigations later concluded that PGI was not conducting legitimate trading at the scale required to generate those returns.

SEC Charges Against PGI Founder (April 2025)

On April 22, 2025, the U.S. Securities and Exchange Commission filed a civil enforcement action against:
Ramil Ventura Palafox
The SEC alleged:

• Approximately $198 million raised from investors worldwide
• Over $57 million misappropriated for personal use
• Sale of “membership packages” promising guaranteed high returns
• Multi level marketing (MLM) recruitment incentives
• A Ponzi like structure using new investor funds to pay earlier participants
  The SEC sought permanent injunctions, civil penalties, disgorgement of profits, and bans preventing future involvement in crypto related securities offerings.

DOJ Criminal Case & 20 Year Prison Sentence (February 2026)

In a parallel criminal case, the U.S. Department of Justice charged Palafox with wire fraud and money laundering.
He pled guilty on September 16, 2025.
On February 12, 2026, he was sentenced to:

20 Years in Federal Prison

According to court documents:

• Over 90,000 investors worldwide deposited more than $201 million
• At least 8,198 Bitcoin were invested (valued at ~$171.5 million at the time)
• Confirmed losses reached at least $62.7 million
• A restitution amount of $62,692,007 was ordered as part of the plea agreement
  Investigations were conducted by the Federal Bureau of Investigation and IRS Criminal Investigation.

How the PGI Crypto Ponzi Scheme Worked

Authorities determined PGI:

• Promised fixed daily returns regardless of market conditions
• Used MLM referral bonuses to drive rapid global recruitment
• Operated a website portal showing fabricated account growth
• Used incoming investor funds to pay earlier participants
  When new deposits slowed in 2021, the scheme collapsed.

Luxury Spending Funded by Investors

Court filings revealed investor funds were used for:

• ~$3 million on 20 luxury vehicles
• Over $6 million on residential properties
• ~$329,000 on penthouse accommodations
• ~$3 million on luxury retail purchases
• Cash and Bitcoin transfers to family members
  The online PGI portal consistently misrepresented profits until the platform went offline.

Parallels With Other Crypto Fraud Cases

Analysts have drawn structural comparisons between PGI and the collapse of:

• FTX
  Both cases involved:
• Unrealistic profit representations
• Misuse of investor funds
• Deceptive financial reporting mechanisms
• Large scale global investor impact
  While different in operational structure, both highlight risks within unregulated crypto investment schemes.

Real Investor Experience

One former investor described the experience:
“The PGI dashboard showed daily gains, and everything looked consistent. I believed the system was trading successfully. When withdrawals slowed and eventually stopped, I realized the profits were just numbers on a screen.”
This aligns with federal findings that the portal displayed fabricated performance data.

PGI Restitution: What Victims Should Do

Step 1: Preserve Documentation

If you invested in PGI Global between 2019 and 2021

Keep:

• Investment confirmations
• Wallet transfer records
• Account portal screenshots
• Email communications

Step 2: Submit Victim Information

The FBI has requested victims complete official restitution forms and victim impact statements.

Step 3: Monitor Case Updates

Restitution payments depend on asset recovery and court administration processes.

Final Takeaway: Lessons From the PGI Crypto Fraud

The sentencing of Ramil Ventura Palafox represents one of the largest SEC and DOJ crypto enforcement actions in recent years.
With:

• 90,000+ investors affected
• $200+ million raised
• $62.7 million in confirmed losses
  The PGI case serves as a cautionary example of how Ponzi structures can operate within the crypto ecosystem.
  Investors should always:
• Verify SEC registration
• Avoid guaranteed return claims
• Be cautious of MLM based crypto programs
• Demand transparent, audited reporting