SEC Charges Brothers Jonathan and Tanner Adam with $60 Million Ponzi Scheme

The Securities and Exchange Commission today announced that it obtained emergency asset freezes against Jonathan Adam, a resident of Angleton, Texas, and his brother, Tanner Adam, a resident of Miami, Florida, and against their respective entities, GCZ Global LLC and Triten Financial Group LLC, to halt an alleged $60 million Ponzi scheme impacting more than 80 investors across the country. The SEC’s complaint alleges that, from January 2023 to June 2024, the Adam brothers solicited and lured victims with the promise of up to 13.5 percent monthly investment returns. According to the complaint, the duo falsely told investors that Jonathan Adam had created a “bot” that operated on a crypto asset trading platform to identify arbitrage trading opportunities, and that investor funds would be used in a lending pool that would, through smart contracts, fund “flash loans” to complete these arbitrage trades.