Texan gets one-and-a-half years in jail for using bitcoin Ponzi scheme

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NEW YORK A Texas male was condemned to one-and-a-half years in jail on Thursday for handling a bitcoin-related Ponzi intrigue that prosecutors contend resulted in a initial U.S. rapist bonds rascal box associated to a digital currency.

Trendon Shavers, who operated Bitcoin Savings and Trust, was also systematic by U.S. District Judge Lewis Kaplan in Manhattan to pledge $1.23 million and compensate compensation in a same volume for handling what a decider called a “class Ponzi scheme.”

“You defrauded trusting people,” he said. “You did it, in a final analysis, for personal gain.”

Shavers, who pleaded guilty in Sep 2015 to one count of bonds rascal and who now supports himself as a cook, pronounced in justice he had “royally messed up,” and had mislaid friends and broke his family as a outcome of his fraud.

“I don’t consider this is something I’m ever going to get over,” he said.

Shavers, a Prosper, Texas, proprietor who went by “pirateat40” online, was arrested in Nov 2014, dual months after a sovereign decider in Texas systematic him to compensate $40.7 million in a associated U.S. Securities


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