Trendon Shavers All about cryptocurrency – BitcoinWiki
Trendon Shavers, Bitcoin Ponzi Schemer, Charged 40
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- Trendon Shavers, Bitcoin Ponzi Schemer, Charged 40
A federal prosecutor said Shavers did, however, invest some of the bitcoin in the now-defunct Tokyo-based Mt. Texas man Trendon Shavers has finally admitted that he indeed was the brain behind Bitcoin Ponzi scheme named Bitcoin Savings and Trust (BTCST). When the SEC charged Shavers last month with. Shavers of McKinney, TX for operating BTCST (Bitcoin Savings and Trust), a Ponzi scheme advertised as a financial security involving over 700,000 BTC of investors’ money. An American judge sentenced Trendon Shavers – best known as ‘pirateat40’ -, to pay a combined $40.7 million for running a Ponzi scheme. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. Bitcoin ponzi scheme perpetrator Trendon Shavers has plead guilty to securities fraud and is now awaiting sentencing. Defendant Trendon T. Shavers (“Shavers”) f ounded and operated Defendant Bitcoin Savings and Trust (“BTCST”) from his McKinney, Texas home. Trendon Shavers of Bitcoin Savings & Trust (BTCST) was accused last year of scamming customers out of roughly $4.5 million worth of the cryptocurrency through his online hedge-fund. Trendon T. Shavers is accused of squandering investors’ bitcoins to pay for rent and food. Trendon Shavers sentenced to one-and-a-half years in prison for operating a bitcoin-related Ponzi scheme that accusers… by ttm. Trendon Shavers, the founder of Bitcoin Savings and Trust, a proven ponzi company, was convicted for luring people into investing 764,000 bitcoins (~$4.5 million at the time of investment) with the promise of 7% weekly. The SEC is going after him for allegedly running a Bitcoin Ponzi scheme from 2011 to 2012.
Mazzant found that BTCST and founder Trendon T. Trendon Shavers, involved in what federal authorities. The lawyer representing the man accused of running the first Bitcoin Ponzi scheme says his client was the target of unjustified zeal from the US Securities and Exchange Commission (SEC). Shavers violated federal securities laws by selling bitcoin-denominated investments through the Internet and misappropriating client funds. Trendon Shavers has been fined $40 million for operating a …. Trendon T. Shavers has been called the Bernie Madoff of Bitcoin. The U.S. Securities and Exchange Commision (SEC) charged him on Tuesday with defrauding investors in a Ponzi scheme worth 700,000. According to the feds, “Preet Bharara, the United States Attorney for the Southern District of New York, announced that TRENDON T. Others may have heard of the Silk Road – a famed online black market used for drugs and other illegal activities. Bitcoin. 9. At the peak of his scheme, TRENDON T. On this lengthy interview, we talk to Trendon Shavers about his role in one of the largest bitcoin scandals before or since, and explore the cost of easy money. NEW YORK—A Texas man who carried out what authorities said was the first federal bitcoin securities fraud to be prosecuted was sentenced on Thursday to 18 months in prison. Shavers (“Shavers”), challenged the Court’s subject matter jurisdiction over this case. Trendon Shavers and Bitcoin Savings and Trust involved in first ever Bitcoin Ponzi. The scheme – run by Trendon Shavers – …. Trendon Shavers, founder of Bitcoin Savings & Trust, was sentenced in. SHAVERS, a/k/a “pirateat40,” the defendant, raised, and had in his possession, about seven percent of the Bitcoin that was in.
Trendon Shavers (known as Pirateat40 or simply Pirate) was the operator of the largest scam in bitcoin history: he operated a ponzi scheme which initially promised a guaranteed a daily profit of 1%, and then disappeared with an unknown amount of bitcoins in August 2012. Kaplan for his “High Yield Investment Program” called Bitcoin Savings & …. Trendon Shavers operated what was allegedly a Ponzi scam involving bitcoins. His Bitcoin Savings & Trust (BTCST. Trendon Shavers from Texas was arrested for running a $4.5 million Ponzi Scam. While most people are convinced that Bitcoin will make it in the long run, some sincerely believe …. The person behind the first ever Bitcoin securities fraud in the United States is going to spend the next 18 months in prison. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. The 33-year-old was arrested in November and released on bail. A plea agreement allowed for a second charge of wire fraud to be dropped. Trendon Shavers, 33, admitted to defrauding investors. Trendon Shavers recently turned up in a Texas courtroom, arguing that Bitcoin is not money. Well, it may have been his lawyer making the case. SHAVERS, a/k/a “pirateat40,” was sentenced today to 18 months in prison for one count of securities fraud stemming from his involvement in a Bitcoin-related Ponzi scheme. Bitcoin is Money, Say Federal Judge. A few weeks ago, we covered the story of Trendon T. Shavers, a Texas man charged by the SEC with running a Bitcoin ponzi scheme. Shavers promised investors a weekly return of 7 percent, according to the federal complaint, but shut-down his site after collecting upwards of 700,000 bitcoins. Two more fell in September 2015: 33-year-old American Trendon Shavers pleaded guilty to running a $150 million Ponzi scheme—the first Bitcoin securities fraud case—and 30-year-old Frenchman. Shavers is suspected of embezzling about 146,000 of the 764,000 bitcoins he raised between Sept. 2011 and Sept. 2012 and allegedly using the proceeds to buy a BMW sedan, spa treatments and a $1,000 steak dinner, among other things. If …. On Monday, Trendon Shavers, 33, McKinney, Texas native accused of operating a Ponzi scheme that involved bitcoins pleaded guilty in Manhattan court in what is considered the first U.S. criminal. Posted February 21, 2014 by Peiffer Wolf. Trendon Shavers of McKinney, Tx., has been charged with what appears to be the first case of ponzi schemes that involves Bitcoins, otherwise known as digital currency. Bitcoin Savings & Trust (abbreviated as BST) was a ponzi scheme operated by Trendon Shavers (then known as Pirate). It was launched in November 2011 as First Pirate Savings & Trust. He later plead guilty to having operated a Ponzi scheme. Shavers is an individual residing in McKinney, Texas, and is the founder and operator of Bitcoin Savings and Trust (“BTCST”), formerly known as First Pirate Savings & Trust. According to the facts stated by the SEC,1 Shavers made a number of solicitations. The 33-year-old McKinney, Texas native started his own company, Bitcoin Savings & …. Trendon T. Shavers of McKinney, Texas, ran the Bitcoin Savings and Trust (BTCST), an investment scheme that promised 7 percent weekly returns from bitcoin trades intended to profit from market price differences in the virtual currency, according to a news release …. A Ponzi scheme is a fraudulent investment operation where the operator pays returns to its investors from new capital paid by new investors, rather than from profit earned.The. Shavers is the name of the man recently charged by the US Securities and Exchange Commission (SEC) for allegedly running a Bitcoin-related Ponzi scheme. However, the Bitcoin world knows him better as the famous ‘pirateat40’. As per a report by the Wall Street Journal, the entire racket was so big that at a certain time it actually had 7 percent digital currency in …. Ultimately, this resulted in the collapse of the fraudulent organisation, more than 265,000 bitcoins stolen, and imprisonment and a $40 million dollar fine on Trendon Shavers, the organiser of Bitcoin Savings and Trust. This in itself was not a scam. When the. During the relevant period, Shavers obtained at least 700,467 Bitcoin in principal investments from BTCST investors, or $4,592,806 in U.S. dollars, based on the daily average price of Bitcoin when the BTCST investors purchased their BTCST investments (Dkt. #3 at 4). In response to the SEC’s first civil complaint arising from online virtual currency trading, alleged Bitcoin Ponzi schemer Trendon Shavers recently challenged the district court’s authority to hear the case.