Charges at first bitcoin ponzi scheme

[igl00]

SEC brings charges as first-ever Bitcoin Ponzi scheme unravels ? RT USA

On Tuesday the SEC announced it was charging Trendon Shavers of McKinney, Texas for allegedly defrauding investors he had lured into the Bitcoin market with promises of up to 7% interest per week.

Shavers was able to raise over 700,000 bitcoins in the period between September 2011 and September 2012, a sum worth some $4.6 million based on the digital currency’s value at the time.

According to the SEC complaint, Shavers was actually using funds from new investors to pay out promised returns to those already lured into what became a classic Ponzi scheme.

 

[(O_o)]

Classic ponzi scheme.

Interesting to see the SEC regulate on a bitcoin matter. Must be because he turned them into fiat USD.

 

[microphone head]

With a name like that he really should be running an affiliate network.

 

[SomeGoodE]

Hope he balled out while he had it..

 

[davidne]

why the fuck do people even attempt ponzi schemes these days? do they really expect to get away with it?

 

[Cshark]

why the fuck do people even attempt ponzi schemes these days? do they really expect to get away with it?

I have one word for it, 'greed'. 'WANT' of something that you are not worthy of makes both the wrong and right path, look legit. For a while, at least.

 

[dmnEPC]

why the fuck do people even attempt ponzi schemes these days? do they really expect to get away with it?

Hey bro I have an idea that has been making fellow WF member's rich. Send me a PM if you want a little taste.

 

[Vadym]

why the fuck do people even attempt ponzi schemes these days? do they really expect to get away with it?

Of course.

It works every single day you never hear about it.

 

[igl00]

FREE LUKEP