“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.’”
Texas man raised over $4.5M in 2012 Bitcoin Ponzi scheme, feds allege
- Post author:The Freedom Watch Staff
- Post published:July 24, 2013
- Post category:Network Archives
Tags: Alternative News, Bankocracy, Bitcoin, CLibertyC, constitutional liberty coalition, economic Trends, False Sense Of Security, for life and liberty, From The Government And Here To Help, money, Pirates and Emperors, Resistance, security, sound money, The Freedom Watch
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