24 Oct '14, 3pm

Bit Con? Veteran fraud expert sets his sights on bitcoin via @FortuneMagazine

Bit Con? Veteran fraud expert sets his sights on bitcoin via @FortuneMagazine

Jeffrey Robinson has made a name for himself investigating fraud on the grandest scales. His books on international money laundering and the pharmaceutical industry pulled back the curtain on the nefarious behavior of some in the banking and pharmaceuticals industries. Now, he is turning his attention to bitcoin, with a new polemic called Bit Con: The Naked Truth About Bitcoin . Of course, unlike the schemes of felonious bankers, bitcoin—the technology and the currency—wasn’t conceived as a malicious scam. But Robinson is convinced that when all is said and done, it will become the vehicle for hucksters to trick both innocents and bitcoin’s ideological backers out of millions. Fortune spoke with Robinson about the year he spent researching bitcoin and why he thinks the currency will ultimately dissolve into worthlessness. The interview has been edited for length and clarit...

Full article: http://fortune.com/2014/10/24/bitcoin-fraud-scam/

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