Trade Coin Club’s owner, Director and two US-based promoters have been sued by the SEC.

Defendants Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor and Jonathan Tetreault, are alleged to have stolen almost $300 million from consumers.

Trade Coin Club
was a Ponzi scheme, reviewed here on BehindMLM back in 2017.

Five years later, the SEC’s November 4th TCC press-release confirms BehindMLM’s research and findings;

Trade Coin Club (was) a fraudulent crypto Ponzi scheme that raised more than 82,000 bitcoin, valued at $295 million at the time, from more than 100,000 investors worldwide, including at least 2,500 investors in the United States.

Special mention goes to serial Ponzi promoter J. Ryan Conley, who at the time
claimed
he “support(ed) the mission at TCC and we have great plans to feed the needy”.

In reality, like all MLM Ponzi schemes, Trade Coin Club only enriched its owners and top promoters.

Getting back to the SEC’s lawsuit, here’s the cited backgrounds on the TCC defendants:

Douver Torres Braga –
Trade Coin Club’s owner, fled Florida for Brazil (also
promoted the WCM777 Ponzi scheme
)

Joff Paradise –
Trade Coin Club’s US Director, US national who fled Nevada for Panama (also tied to
AirBit Club
and
AI Trade
Ponzi schemes)

Keleionalani Taylor –
Trade Coin Club’s top US-based earner, ran Trade Coin Club Team Mega (lived in Washington, moved to Hawaii)

Jonathan Tetreault –
Massachusetts based Trade Coin Club promoter and earner

Trade Coin Club was a typical MLM crypto Ponzi scheme. The ruse used to defraud investors was trading – still the number one MLM Ponzi ruse five years on.

(Trade Coin Club) was marketed as an opportunity to profit from the supposed crypto asset trading activities of Trade Coin Club’s alleged crypto asset trading bot.

In reality, Trade Coin Club operated in a manner consistent with a Ponzi scheme.

Braga shared the office and staff with a company called “Trade by Trade,” a newly formed crypto asset trading platform.

Braga depicted the two organizations as one combined business and created the false impression that Trade by Trade conducted crypto asset

trading activities for Trade Coin Club.

Trade Coin Club had no external source of funding for investor withdrawals or redemptions, such as profits from trading.

Instead, investor withdrawals were paid solely with investor deposits.

Specifically, 99.96% of investors’ bitcoin withdrawals were funded by other investor deposits.

Trade Coin Club launched in late 2016.

Paradise marketed Trade Coin Club as a passive investment that was well suited for individuals with limited funds and without any experience in trading.

In a recording from December 20, 2016, Paradise stated “[s]o what we’ve done is taken a guy that doesn’t know anything about trading, the mom that has three kids that’s on social security or on welfare and she has a little bit of – she has some bitcoin and maybe somebody gave her … we’ve figured out how to let her do

🤖 Quick Answer

What was Trade Coin Club and why was it shut down?
Trade Coin Club was a fraudulent cryptocurrency Ponzi scheme that operated until being sued by the SEC in November 2023. The scheme raised over 82,000 bitcoin from approximately 100,000 investors worldwide, including 2,500 US-based investors, totaling around $295 million in stolen funds.

Who were the defendants charged in the SEC lawsuit?
The SEC charged four individuals: Douver Torres Braga (owner), Joff Paradise (director), and two US-based promoters, Keleionalani Akana Taylor and Jonathan Tetreault. They were alleged to have orchestrated the fraudulent scheme and misappropriated nearly $300 million from consumers globally.

How many investors were affected by the Trade Coin Club scam?
Trade Coin Club defrauded over 100

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