In First, FINRA Files Fraud Complaint Against Crypto Broker

The Financial Industry Regulatory Authority (FINRA) has charged a Massachusetts resident with securities fraud for an unregistered token sale in a first for the self-regulatory organization (SRO). Ayre allegedly sold unregistered securities in the form of the HempCoin token, which was said to represent an investment in his “worthless” company, Rocky Mountain Ayre (RMTN). FINRA […]

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CFTC Sues Alleged Crypto Ponzi Scammer for $500K Theft

The U.S. Commodity Futures Trading Commission (CFTC) is suing an alleged Ponzi scammer on claims he and his company raised half a million dollars for cryptocurrency investments, which instead went to personal uses. According to a press release, Breonna Clark, otherwise known as Eliot Clark or Alexander Pak, and his firm Venture Capital Investments Ltd. […]

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CabbageTech CEO Sentenced to 33 Months in Prison After Pleading Guilty in Fraud Case

Patrick McDonnell was sentenced to 33 months in federal prison Thursday after pleading guilty to charges of defrauding investors in his crypto trading firm CabbageTech, otherwise known as Coin Drop Markets. McDonnell was also ordered to pay back his victims $224,352, according to the U.S. Attorney’s Office for the Eastern District of New York. Thursday’s […]

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