The Securities and Exchange Commission (SEC) filed a lawsuit against Bitcoin Savings and Trusts Inc. The SEC alleges that, Trendon Shavers, the founder of Bitcoin, deceived investors into taking part in a fraudulent Ponzi scheme. The SEC alleges that Shavers used money he collected from newer investors to pay older investors. Bitcoin is now being more closely examined by the government and as well as other ventures touting the use of "virtual" currencies.
If you believe you have been victimized by securities fraud, financial malpractice, or theft by a FINRA registered broker, please call the securities attorneys of the Costello Law Group at (877) 418-0003 for a free consultation.
To read more, please visit: http://www.investmentnews.com/article/20130723/FREE/130729974