In a new report, the court-appointed receiver assigned to investigate an alleged cryptocurrency scam has found no evidence of "any legitimate Gemcoin or other viable business."
In October 2015, the Securities and Exchange Commission announced that it had sued a Southern California company over an alleged Ponzi scheme resulting in a loss to investors of at least $32 million. If the government’s accusations are correct, that would make Gemcoin one of the largest digital-currency-based financial schemes ever.
The lawsuit came days after the United States Marshals Service and the Arcadia Police Department froze assets and raided corporate offices in Arcadia, north of downtown Los Angeles. Alliance Finance Group and its assets were promptly put into the hands of a court-appointed receiver, whose job it remains to examine what went wrong.
Read 5 remaining paragraphs | Comments
No comments:
Post a Comment