Bitcoin Ponzi Scheme Perpetrator Fined $40 Million

By September 22, 2014Bitcoin Business

A Texas man charged with defrauding consumers through an illicit investment vehicle has been ordered to pay more than $40m in fines by a federal judge.

The Thursday ruling brought to close a case launched last July that drew headlines at a time when many in the mainstream US media were only first learning about bitcoin and its related technology.

Trendon Shavers, the founder and operator of Bitcoin Savings and Trust (BTCST) had reportedly accrued more […]

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