Depressingly, the scam he used (claiming to run advanced trading algorithms to guarantee a profit for his 'investors' and using MLM to spread the con) is repeated over and over again and seemingly impossible to stop.
One of my in-laws is a serial MLM patsy and has totally fallen for one of these. Both AI and cryptocurrency are in the news a lot, making it easy for con-artists to dazzle people with marketing techno-babble and promises of guaranteed riches. (Obviously not all trading schemes are complete cons, but so many are.)
Especially considering if someone knows about a scheme that actually works (in the sense that it significantly beats the market), they would be using it quietly for themselves instead of sharing it with other people.
One of my in-laws is a serial MLM patsy and has totally fallen for one of these. Both AI and cryptocurrency are in the news a lot, making it easy for con-artists to dazzle people with marketing techno-babble and promises of guaranteed riches. (Obviously not all trading schemes are complete cons, but so many are.)