The Securities and Exchange Commission has filed partially settled charges against Zan Shaikh and his company for allegedly defrauding investors with a crypto mining scheme. According to a Monday statement, the agency accuses the Florida resident and his company, Mining Automatic, of raising roughly $22 million from more than 380 investors in a fraudulent crypto asset mining scheme. The SEC alleges that between approximately June 2023 and May 2025, Shaikh and Mining Automatic promised investors guaranteed monthly returns from a purported crypto asset mining operation. Its complaint states that the operation was ... (full story)