A Tennessee man has been indicted on 11 charges for allegedly running a cryptocurrency Ponzi scheme through his company, Star Credit Holdings, from 2020 to 2024. The U.S. Department of Justice announced that the man lured investors with false promises of guaranteed returns, using funds from new investors to pay off earlier ones, defrauding them of millions of dollars. He allegedly misappropriated over $1.9 million for personal and family use. The charges include wire fraud, money laundering, and filing false tax returns. If convicted, he faces decades in federal prison.