Regulators in Texas have once again issued a cease and desist order against a promoter of an allegedly fraudulent cryptocurrency investment scheme. Meanwhile, the indicted party insists that the accusations are false; citing the many beneficiaries of the virtual currency investment vehicle.

CFTC Investigates Crypto Exchange BitMEX Over Client Trades
Friday July 19, 2019

Coinspeaker CFTC Investigates Crypto Exchange BitMEX Over Client TradesThe U.S. Commodity Futures Trading Commission is allegedly investigating crypto exchange BitMEX, a platform that had gained huge popularity in Asia for letting people make big bets with little money down.This CFTC probe is focusing on questions considering BitMEX breaking rules by allowing U.S. citizens to trade […]

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Alleged Fraudulent Cryptocurrency Investment Scheme
The Texas State Securities Board issued a press release announcing the order on Wednesday (November 28, 2018). According to the statement, Travis J. Iles entered an emergency cease and desist order against one Mark Steven Royer for offering a fraudulent cryptocurrency investment scheme.
Details of the order show that Royer allegedly failed to disclose critical information about the scheme being promoted – a cryptocurrency trading and mining program offered by My Crypto Mine. The California-based Royer is also a principal officer of the firm which is reportedly targeting Texas-based investors.
According to the order, Royer assured investors of between 10 to 20 percent ROI on a weekly basis. However, there is no information about company personnel or trading strategies utilized.
Texas regulators also say that Royer failed to disclose his affiliation with a company called BitQyck. Between 1996 and 1997 its two chief officers suffered disbarment and criminal convictions for fraud and siphoning client funds respectively.

McDonald’s Bringing A Little International Flavor To Its Menu With Dutch Stroopwafel McFlurry
Wednesday April 24, 2019

var pref_event_title_prefix = ‘AOL’; McDonald’s Is Adding New International Menu Favorites In The US An iconic international McDonald’s menu item will be added to U.S. franchises. Starting early June, the fast-food giant is adding four “Worldwide Favorites” to the menu, according to documents shared with Business Insider. One of the new international menu favorites to

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The Accusations are Ludicrous
Responding to the allegations, Royer described them as ludicrous. Speaking to The Dallas Morning News, Royer said:
It’s pretty laughable to be honest. We’re a tiny little investment club. There’s multiple inaccuracies in their document that I’ll let my attorney take care of. They don’t even have our website domain right.
According to Royer, the investment scheme has helped lots of people earn money to pay off college debts and increase their retirement savings. As for his involvement with BitQyck, Royer said he had no relationship with the company.
Royer has about a month to respond to the order before the window of appeal expires. Failure to comply with the order could see him face up to 10 years in prison with a fine of about $10,000.
In another development, the FBI recently arrested Jared Rice Sr., the chief executive of Dallas-based AriseBank, on charges of wire fraud and securities fraud. The FBI says Rice swindled investors numbering over a hundred to the tune of $4 million.
Prosecutors allege that the AriseBank CEO touted false claims of offering Visa-brand debit/credit cards, cryptocurrency services, as well as, being FDIC insured. Rice also allegedly misappropriated investors for his personal use.
In the United States, regulators at both the state and federal level are ramping up efforts to combat fraudulent cryptocurrency businesses. In the last few months, states like Colorado, North Dakota, and Texas have issued cease and desist orders against numerous suspected fraudulent virtual currency investment schemes.
Do you think that Royer is running a fraudulent cryptocurrency investment scheme? Let us know your thoughts in the comments below.

15 Best Masonic Gifts: The Ultimate Christmas List (2018)
Friday December 14, 2018

The Freemasons are the largest and most celebrated fraternal order. Though their traditions are somewhat secretive, there is no need for a mason to hide their identity. On the contrary, any brother will be honored to represent the Order with a subtle decoration or accessory. These are our picks for the best Masonic gifts you […]

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