A U.S. district court in Florida has issued a temporary restraining order against four individuals accused of operating a string of cryptocurrency investment schemes following a request from the Federal Trade Commission.
The agency announced Friday that three of the four defendants - Thomas Dluca, Louis Gatto, and Eric Pinkston - were involved in two referral schemes, Bitcoin Funding Team and My7Network. A complaint dated February 20 and unsealed today alleged that they promised would-be investors major returns if they made initial payments in cryptocurrency, mentioning bitcoin and litecoin specifically.
"The defendants claimed that Bitcoin Funding Team could turn a payment of the equivalent of just over $100 into $80,000 in monthly income. The FTC alleges, however, that the structure of the schemes ensured that few would benefit. In fact, the majority of participants would fail to recoup their initial investments," the agency said.
https://www.coindesk.com/us-trade-regulator-shuts-crypto-investment-schemes/
