September 22, 2014
Trendon T. Shavers, Bitcoin Savings and Trust
SANCTION AMOUNT: $40,704,667
Defendants: Bitcoin Savings and Trust
Trendon T. Shavers
Bitcoin Ponzi scheme operated through an unincorporated, online entity. Investors were lured in and defrauded out of more than 700,000 bitcoins with promises of high interest rates to be generated by trading against the dollar and "off the radar" sales of the virtual currency.
- Key Docs
- Official SEC press release