arisebank Archives

AriseBank CEO Pleads Guilty to $4.2 Million Securities Fraud Involving ICO

March 22, 2019 CryptoLeave a Comment

Jared Rice Sr., founder of crypto bank AriseBank, pleaded guilty to one count of securities fraud Wednesday in federal court The Dallas News reported Thursday that Rice, who was arrested last year, admitted to scamming investors out of $4.2 million by selling AriseCoin tokens and promising that customers would receive Visa credit cards and accounts […]

FBI Arrests ‘Crypto Bank’ CEO Who Embezzled ICO Funds

December 3, 2018 CryptoLeave a Comment

Well, that escalated slowly. The CEO of “AriseBank,” who CCN previously reported as the target of an SEC injunction and civil proceedings in January, was arrested by the FBI this week without incident on charges of fraud to the tune of around $4 million, according to a press release from the Department of Justice. The […]