US man jailed over bitcoin fraud scheme

Trendon ShaversImage copyright

Image caption

Shavers said he “royally messed up” by running the fraudulent scheme

A Texan man has been sentenced to 18 months in jail for running a fraudulent Ponzi-style scheme based around the Bitcoin virtual currency.

The scheme – run by Trendon Shavers – promised high returns to those who backed bitcoin-related investments.

Instead of investing cash, Shavers used it to pay early investors in the scheme and to amass bitcoins.


Read more ... source: TheBitcoinNews

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