Missouri shuts down Active Mining investment activities

[TooDumbForBitcoin]

Game over.

http://www.news-leader.com/story/news/local/ozarks/2014/06/02/secretary-state-halts-springfield-bitcoin-business/9871263/

[Chef Ramsay]

It doesn't appear that this guy was a crook in that he should go to jail. It does, however, make it look like he wasn't exactly looking out for the best interests of his investors. Tho, he is willing to pay the fine and allegedly reimburse investors that want out. Hope this sets a both a precedent and a learning experience for investors and IPO chiefs as well. Keep it clean and stop making crypto and the free market look like shit. It's definitely not good PR for the public when they see alleged scammers involved in something and I can only imagine the bad taste it would leave in their mouths. They aren't true believers like we are and it doesn't help our cause when people in positions of trust go AWOL or shake people down. The golden rule applies in this line of business. Also, it's cases like these that justify the state being involved in economics.

[ganabb]

Halted investment activity? Mean it's still operates, just doesn't accept or solicit investment?

[Bit_Happy]

Game over.

http://www.news-leader.com/story/news/local/ozarks/2014/06/02/secretary-state-halts-springfield-bitcoin-business/9871263/

Here is a fun quote:
Kander's office asserts that in each offering Slaughter took no steps to inform investors of some of the potential risks involved with his venture, including the volatility of digital currency. Instead, Slaughter allegedly said that Bitcoin was "highly regulated" at both the state and federal level...

He lied before leading his investors to the slaughter?  

[Swordsoffreedom]

I guess this is a final farewell to the btct days
Activeminer died a much slower death than labcoin but nonetheless it was a failed asset

"The fact that somebody is selling investments through Bitcoin rather than traditional currency doesn't change their obligations to investors, and I encourage Missourians to call my office before making any Bitcoin investments," Kander said in the release. "Investors have a right to know the full set of facts about both an investment and its backer, including the risks, profit-generating strategy and pertinent financial history."

Additionally, Kander said Slaughter should have advised investors of relevant complaints against Slaughter and his previous company, Active Internet Communications.

Glad this investigation yielded a result though for the investors in Activemining