Bitcoin, the virtual currency that has been gaining momentum in recent years, now seems to have reached the dubious milestone of its first Ponzi scheme, following charges filed by the US Securities and Exchange Commission in Texas.
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. Continue reading “SEC brings charges as first-ever Bitcoin Ponzi scheme unravels”

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