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.
https://www.coindesk.com/us-trade-regulator-shuts-crypto-investment-schemes/
https://www.coindesk.com/us-trade-regulator-shuts-crypto-investment-schemes/
They're really blurring the distinction between "operating" and "promoting" here, which seems important to me. According to the article, the first three defendants "promised would-be investors major returns if they made initial payments in cryptocurrency." Then they ran fraudulent schemes with the money.
But this is what concerns me:
Quote
A fourth named defendant, Scott Chandler, was accused of promoting Bitcoin Funding Team as well as another alleged scam called Jetcoin.
The first three guys involved were obviously operating fraudulent investment schemes. Nothing new there. But if the SEC is going after people who were just promoting schemes that turned out fraudulent? That seems new. I'll bet Trevon James and those other Bitconnect guys are shitting their pants right now.
