Investors Get Revenge on S&M Master Charged in Ponzi Scheme

‘TOO GOOD TO BE TRUE’

According to the feds and investors, David Saffron used rented mansions to reel in his marks and a fake “hostage” video to fend them off.

Senior Reporter

Published Jul. 9 2022 8:00PM EDT

071022-shugarman-cryptoscam-hero_tjdtuq — Photo Illustrations by Luis G. Rendon/The Daily Beast/Getty

Greg—and we’ll just call him Greg, because he’s a little unsure about having his full name out there, for reasons that will soon become apparent—knew nothing about bitcoin

Emily Shugerman

Senior Reporter

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Investors Get Revenge on S&M Master Charged in Ponzi Scheme

According to the feds and investors, David Saffron used rented mansions to reel in his marks and a fake “hostage” video to fend them off.

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Emily Shugerman