CFTC, the US Commodity Futures Trading Commission has charged two defendants with multiple criminal offences for attempting to steal bitcoins from their customers.
UK’s Advertising Regulator Accuses BitMEX Exchange of Misleading Bitcoin Graph
Wednesday August 14, 2019
Coinspeaker UK’s Advertising Regulator Accuses BitMEX Exchange of Misleading Bitcoin GraphOn Wednesday, August 14, the U.K. Advertising Standards Authority (ASA) has upheld its complaint against the crypto derivatives platform BitMEX for showing a “misleading” Bitcoin price graph on the front page of the country’s national newspaper.ASA, which is an independent ad regulator, said that earlier […]
The post UK’s Advertising Regulator Accuses BitMEX Exchange of Misleading Bitcoin Graph appeared first on 12bit trade.
Charges Filed for Bitcoin Fraud
The US regulator earlier on Friday charged two defendants with fraudulent solicitation and other crimes. The two defendants have been identified as one using the name Morgan Hunt, purportedly of Arlington, Texas, and the other using the name Kim Hecroft, allegedly of Baltimore, Maryland. Hunt was conducting business under the name Diamonds Trading Investment House (Hunt), and Hecroft as First Options Trading (Hecroft). The charges have been filed in the U.S. District Court for the Northern District of Texas.
It is alleged that the two accused through a fraudulent scheme targeted innocent victims to solicit Bitcoin by luring them to invest in financial products (Like leveraged or margined foreign currency contracts, binary options, and diamonds). The charges also include forgery of account statements, impersonation of a CFTC investigator, and forgery of documents purportedly authored by the CFTC’s General Counsel (Bearing the image of the CFTC’s official Seal).
New teaser for Vampire: The Masquerade – Bloodlines 2 is devoted to the clan Slaboroslyh
Wednesday April 24, 2019
Paradox Interactive and Hardsuit Labs has released a short video teaser for Vampire: The Masquerade – Bloodlines 2. It is dedicated to the clan Thinblood. The developers also talked about the three disciplines that you can master, being Subcrown. the the Chiropteran — strong affinity with bats. The ability to soar above the earth with
The post New teaser for Vampire: The Masquerade – Bloodlines 2 is devoted to the clan Slaboroslyh appeared first on W88.
Statement by CFTC
James McDonald, CFTC Director of Enforcement, commented:
Increased public awareness of the CFTC’s involvement in policing the virtual currency markets has, unfortunately, provided new opportunities for bad actors. As alleged in the Complaint, Defendants sought to exploit public trust in the CFTC through forged documents purporting to be official CFTC memoranda requiring the payment of a tax on cryptocurrency accounts. The CFTC does not collect taxes. The CFTC is on guard against fraudsters who try to take advantage of the CFTC’s reputation in order to cheat customers, and will take swift action against such misconduct.
It is alleged that the defendants used social media platform Facebook and email starting January 2017 to defraud at least two victims. The accused would approach the prospects, posing as professional portfolio managers, and mislead them into believing that their funds would be used for profitable investments.
The duo used fake account statements to convince the prospects that they had a good track record of generating profits for their customers. They further made their customers believe that they could not withdraw their earnings unless they first paid a tax to CFTC. They would then misappropriate customer funds for unauthorized purposes rather than investing the funds into legitimate financial instruments.
Hunt and Hecroft, it is alleged, forged documents including a publicly available CFTC memorandum to make their victims believe that they were obligated to pay tax to CFTC. The two took help from an accomplice to impersonate as a CFTC investigator and made the customers to transfer Bitcoins to their wallet under the pretext of paying a tax.
The CFTC has sought restitution to defrauded persons, disgorgement of ill-gotten gains, civil monetary penalties, permanent trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act and CFTC Regulations.
This case has highlighted the need for strict punishment for such crimes that can act as a deterrent and also a need to create awareness among the gullible public about how to safeguard themselves against cryptocurrency fraudsters.
What steps in your view should be taken to prevent such frauds? How should people safeguard their Bitcoin and other crypto-assets? Let us know in the comments below.
Subnautica Free on Epic Games Store
Friday December 14, 2018
In case you haven’t heard, Epic Games has launched a new games store as a competitor to Steam that offers better deals for developers and publishers if they choose Epic’s platform. Since Steam is currently the big dog on the market Epic Games has to offer up some incentives for users to use their platform […]
Images courtesy of ShutterStock
The post Bitcoin Fraudsters Misled Investors and Impersonated Regulators, CFTC Alleges appeared first on Live Bitcoin News.