“The government’s financial regulator alleges that Shavers violated a number of federal financial regulations. In court documents, the SEC wrote: ‘Shavers falsely promised investors up to 7 percent interest weekly based on BTCST’s purported BTC market arbitrage activity, including selling BTC to individuals who wished to buy BTC ‘off the radar,’ quickly, or in large quantities. In reality, the BTCST offering was a sham and a Ponzi scheme whereby Shavers used new BTCST investors’ BTC to pay the promised returns on outstanding BTCST investments and misappropriated BTCST investors’ [bitcoins] for his personal use.'”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Crashes of Convenience: Michael Hastings
Ukraine to Regulate Bitcoin Businesses Under Existing Laws
The Logical Conclusion of the Modern, Monetary Argument
David Lewis attorney says gun confiscation no “error”
Twitter Nears Deal With Payments Startup Stripe
No Statute Of Limitations For Failing To File U.S. Tax Returns
The FBI Ran a Child Porn Site for Two Whole Weeks
New bitcoin debit card claims to work with 90 percent of US ATMs
Conservatives Were Wrong about Ending Stop-and-Frisk
Disturbing: Top Ten Cities for Meetings
Gold By The Planeload! Precious Metals Update Part II
John Hussman: The Coming Fed-Induced Pension Bust
Bitcoin in Vancouver on Global TV
Massachusetts Attorney General: Pot shops allowed statewide
Carney Gets Ready to Blow Up the World