There are a lot of scam accusations thrown around (mostly by people who are upset because they didn't get a lot of profit from something).
To me, those are mostly just incompetent and failed businesses.
Straight up scams however, are a whole nother thing.
We have had bitconnect and centra that have actually had legal consequences put out against them.
In the case of centra, there is even jail time in the future for them.
And then, the latest is Titanium Infrastructure Services, an ICO held last dec/jan that raised more than 30 million.
They have been accused of fraud by the sec and have been shut down.
They are now having all of their assets and data handed over to a receiver who will use it as evidence in the future trial.
The fraud allegation is based off of how the CEO Michael Stollaire (whose real name is Michael Stollery) claimed to personally know and do business with huge companies like Disney, Mcdonalds, etc. and claimed that he could onboard those clients to his new company.
So justice is being done?
Meh, how many investors in these scam projects are getting funds back or some kind of recompense or reimbursement even with legal intervention?
yeah, none.
I heard about in the centra case, SEC was giving an instruction for those are participating in the ico to get back their money. But it looks like that will go through a lot of verification because SEC has a very strict regulation. I think all of the funds will be seized by SEC. Investors were receiving nothin
