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Bitcoin Ponzi Schemer Pleads Guilty
« on: September 24, 2015, 09:47:21 PM »
Bitcoin Ponzi Schemer Pleads Guilty

A 33-year-old Texan man pleaded guilty to running a Ponzi scheme involving bitcoins, making it the first ever U.S. criminal fraud case related to the cryptocurrency. Texas native Trendon Shavers has admitted to operating a Ponzi scheme running $4.5 million worth of bitcoins, Reuters reports. Shavers aka “pirateat40” while online, was arrested in November, a couple of months after being ordered to pay $40.7 million in a U.S. Securities and Exchange Commission civil lawsuit related to the Ponzi case. The case is a milestone, with prosecutors noting that it is the first U.S. criminal securities fraud case related to Bitcoin. […]

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