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Bitcoin Forum > Bitcoin > Bitcoin Discussion > Press > 2013-07-23 sec.gov SEC Charges Texas Man With Running Bitcoin-Denominated Ponzi
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Author Topic: 2013-07-23 sec.gov SEC Charges Texas Man With Running Bitcoin-Denominated Ponzi  (Read 823 times)
bitcool (OP)
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July 24, 2013, 03:17:25 PM
Last edit: July 24, 2013, 04:14:07 PM by bitcool
 #1
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370539730583

It's funny that the headline SEC uses is the more objective one than most MSM outlets: "Bitcoin-Denominated Ponzi Scheme" vs "Bitcoin Ponzi Scheme"

It's also interesting this is handled not by local police, not by FBI, but by SEC.

SEC= U.S. Securities and Exchange Commission
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August 04, 2013, 05:16:15 AM
 #2
NO ONE FUCKING COMMENTED?

its damn pirateat40!
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the hacks, the hacks, secure your bits!
TraderTimm
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August 06, 2013, 10:43:48 PM
 #3
I think the actual commentary will come when he's about to be sentenced, and then in jail.

That snake deserves exactly what he gets. (No, I never participated in his scheme.)
fortitudinem multis - catenum regit omnia
ArticMine
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August 07, 2013, 02:59:25 AM
 #4
Once the SEC is done with pirateat40 then it will be the turn of the IRS. Starting with US withholding taxes on the interest he paid out to non US persons. By the way the court has already ruled that Bitcoin is money. https://bitcointalk.org/index.php?topic=269313.
Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
cryptoanarchist
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August 07, 2013, 03:08:17 AM
 #5
Great news! I hope he gets put in a cell with a large thug who uses him as a F*** doll. That would certainly be appropriate.
I'm grumpy!!
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