September 22, 2014

Trendon T. Shavers, Bitcoin Savings and Trust

Offering Fraud

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.

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