23 Jul '13, 4pm

Texan Charged In Bitcoin-Denominated Ponzi Scheme

SEC Charges Texas Man With Running Bitcoin-Denominated Ponzi Scheme The Securities and Exchange Commission today charged a Texas man and his company with defrauding investors in a Ponzi scheme involving Bitcoin, a virtual currency traded on online exchanges for conventional currencies like the U.S. dollar or used to purchase goods or services online. The SEC alleges that Trendon T. Shavers, who is the founder and operator of Bitcoin Savings and Trust (BTCST), offered and sold Bitcoin-denominated investments through the Internet using the monikers “Pirate” and “pirateat40.” Shavers raised at least 700,000 Bitcoin in BTCST investments, which amounted to more than $4.5 million based on the average price of Bitcoin in 2011 and 2012 when the investments were offered and sold. Today the value of 700,000 Bitcoin exceeds $60 million. The SEC alleges that Shavers promised investors...

Full article: http://www.zerohedge.com/news/2013-07-23/texan-charged-bi...

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Texas man charged with running $60M Bitcoin Ponzi scheme

Texas man charged with running $60M Bitcoin Pon...

venturebeat.com 23 Jul '13, 7pm

The Securities and Exchange Commission has charged a Texas man with running a Ponzi scheme in which he raised “at least” 7...

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sec.gov 23 Jul '13, 4pm

Washington D.C., July 23, 2013 — The Securities and Exchange Commission today charged a Texas man and his company with def...

SEC Charges Texas Man With Running Bitcoin Ponz...

businessinsider.com 23 Jul '13, 4pm

The SEC alleges that Trendon T. Shavers, the founder and operator of Bitcoin Savings and Trust (BTCST), offered and sold B...

SEC charges Texas man with running Bitcoin Ponz...

cnbc.com 23 Jul '13, 5pm

WASHINGTON, July 23 (Reuters) - U.S. securities regulators on Tuesday charged a Texas man with running a Ponzi scheme by o...

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pcworld.com 24 Jul '13, 2am

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SEC accuses Texas man of running Bitcoin Ponzi scheme

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"Bernie Madoff of Bitcoin" charged in $4.5M Ponzi scheme

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dailydot.com 23 Jul '13, 7pm

Trendon T. Shavers has been called the Bernie Madoff of Bitcoin . The U.S. Securities and Exchange Commision (SEC) charged...

SEC accuses Texas man of running Bitcoin Ponzi ...

news.cnet.com 23 Jul '13, 5pm

A Texas man is in trouble with the feds for allegedly ripping off investors via a Bitcoin-inspired Ponzi scheme. The SEC a...

Texas man charged with running a Bitcoin ponzi scheme duped investors: "It's growing, it's growing!"

Texas man charged with running a Bitcoin ponzi ...

gawker.com 23 Jul '13, 7pm

The SEC alleges that Shavers promised investors up to 7 percent weekly interest based on BTCST’s Bitcoin market arbitrage ...

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bloomberg.com 23 Jul '13, 5pm

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