Ramil Ventura Palafox, CEO of Praetorian Group International, has been sentenced to 20 years in prison for orchestrating a $200 million Bitcoin Ponzi scheme. According to NS3.AI, Palafox promised investors daily returns ranging from 0.5% to 3%, but the fraudulent operation resulted in a net loss of $62.69 million. Reports indicate that misappropriated funds were used for luxury purchases, including homes and supercars.