Share this article
Crypto Trading Firm PGI Dissolved in UK After Alleged Scam
The firm was dissolved by the U.K. High Court and the Official Receiver has been appointed as liquidator.
Updated Oct 27, 2022, 2:22 p.m. Published Oct 27, 2022, 11:06 a.m.
PGI Global U.K. has been shut down after allegedly scamming would-be investors of around 612,425 pounds (US$709,000) between July 2020 and February 2021.
The firm was dissolved by the U.K. High Court and an Official Receiver has been appointed as liquidator, according to an announcement on the U.K Government's website on Thursday.
STORY CONTINUES BELOW
"Investors were promised returns of up to 200%," the U.K. government said. "But when these did not materialize, investors were unable to withdraw the funds they had invested."
Closure of the company was regarded as a matter of public interest, given PGI's lack of cooperation, failure to maintain and deliver adequate accounting records, failure to comply with statutory obligations and lacking transparency.
PGI is part of Praetorian Group International Trading, which was shut down by the U.S. Department of Justice and the U.S. Treasury.
Read more: Crypto Ponzi Schemes: How to Identify and Protect Yourself From These Scams
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
State of Crypto: Wrapping Up the Month
Congress continues to make progress on crypto issues but things are moving slowly.
Top Stories
