texas Man Denied Bankruptcy Discharge After Cryptocurrency Ponzi Scheme Uncovered
the U.S. Trustee Program (USTP) has secured a judgment denying bankruptcy discharge to Nathan Fuller, a Texas man who operated a cryptocurrency Ponzi scheme and attempted to conceal assets and lie to creditors. The judgment covers over $12.5 million in unsecured debt.
Fuller, owner of Privvy Investments LLC, diverted investor funds for personal expenses including luxury goods, gambling, and a $1 million home for his ex-wife, who was also involved in the business.He filed for bankruptcy in October 2024 after a receiver was appointed in a state court lawsuit brought by investors.
An investigation by the USTP’s houston office revealed Fuller concealed assets, failed to maintain proper records, and made false statements in both his personal bankruptcy filing and a seperate filing for Privvy. After being held in civil contempt for non-compliance, Fuller admitted to operating Privvy as a Ponzi scheme, fabricating documents, and providing false testimony to obstruct the bankruptcy proceedings.
“Fraudsters seeking to whitewash their schemes will not find sanctuary in bankruptcy,” stated U.S. Trustee Kevin Epstein of Region 7. “The USTP remains vigilant for cases filed by dishonest debtors, who threaten the integrity of the bankruptcy system.”
Fuller’s failure to respond to the USTP’s complaint resulted in a default judgment, leaving him personally liable for his debts and allowing creditors to continue collection efforts.
The USTP is dedicated to upholding the integrity and efficiency of the bankruptcy system for the benefit of all stakeholders. More facts can be found at www.justice.gov/ust.
