28 Jul '16, 7pm

Bitcoin Startup Founder Resigns Board Position Amid Fraud Charges

The former executive chairman of a publicly listed Australian digital currency startup has been indicted by the US government for his alleged involvement in a fraudulent text messaging scheme. Zhenya Tsvetnenko was among three parties named in a superseding indictment unsealed last week in the US District Court for the Southern District of New York. Tsvetnenko co-founded DigitalX, which was originally a bitcoin mining firm called DigitalBTC before it moved to launch a payments app called Air Pocket . US prosecutors have alleged that Tsvetnenko, among other defendants named in the case, was involved with a scheme to sign consumers up for recurring text messages without their consent and make money off of the ensuing monthly fees. According to the indictment, as many as several hundred thousand mobile phone users were allegedly signed up as part of the scheme. Prosecutors fu...

Full article: http://www.coindesk.com/digitalx-bitcoin-board-member-fra...

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