---
title: "SEC sues Privvy founder over $12.3 million crypto scheme as AI 'bots' turn out to be neither"
url: https://thecoingazette.com/sec-sues-privvy-founder-over-12-3-million-crypto-scheme-as-ai-bots-turn-out-to-be-neither/
date: 2026-05-30
modified: 2026-05-31
lang: en
author: "Coin Gazette Editorial"
description: "The SEC alleges Fuller spent misappropriated funds on a roughly $1 million house, gambling, trading cards, travel and a Jeep."
categories:
  - "Crypto News"
tags:
  - "ai"
  - "Anti-Money Laundering"
  - "Court Hearings"
  - "crypto"
  - "Crypto Ponzi scheme"
  - "lawsuits"
  - "Legal"
  - "Policy"
  - "sec"
  - "trading"
word_count: 20
---

# SEC sues Privvy founder over $12.3 million crypto scheme as AI 'bots' turn out to be neither

The SEC alleges Fuller spent misappropriated funds on a roughly $1 million house, gambling, trading cards, travel and a Jeep.