24 Jul '13, 2am

SEC charges Texas man with running Bitcoin Ponzi scheme

A Texas man was charged on Tuesday in U.S. federal court with allegedly running a Bitcoin Ponzi scheme, allegedly siphoning the virtual currency from victims to pay for rent, food and gambling. Trendon T. Shavers of McKinney, Texas, ran the Bitcoin Savings and Trust (BTCST), an investment scheme that promised 7 percent weekly returns from bitcoin trades intended to profit from market price differences in the virtual currency, according to a news release from the U.S. Securities and Exchange Commission. Instead, the 30-year-old Shavers, who went by the "Pirate" and "pirateat40," on the popular Bitcoin Forum -- is alleged to have used bitcoin investments from new investors to pay interest to early entrants to the scheme and cover withdrawals, the SEC said. He has been charged with violating parts of the Securities Act of 1933, the Securities Exchange Act of 1934 and the Exch...

Full article: http://www.pcworld.com/article/2045083/sec-charges-texas-...

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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...

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...

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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...

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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...

SEC accuses Texas man of running Bitcoin Ponzi scheme

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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...

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venturebeat.com 23 Jul '13, 7pm

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bloomberg.com 23 Jul '13, 5pm

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wired.com 23 Jul '13, 11pm

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wired.com 23 Jul '13, 9pm

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entrepreneur.com 23 Jul '13, 9pm

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rt.com 23 Jul '13, 11pm

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money.cnn.com 23 Jul '13, 7pm

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arstechnica.com 23 Jul '13, 6pm

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