Enforcement Report: Widespread Fraud Found in Cryptocurrency Offerings

This Investor Alert from the Texas State Securities Board highlights the results of a four-week "sweep" by its Enforcement Division into investment offerings that were tied to virtual currencies.  Enforcement Division attorneys and investigators conducted the sweep in response to a sharp increase in the number of securities offerings marketed to Texans. The investigation targeted promoters who appeared to be illegally and fraudulently using online advertisements, social media, and other public solicitations to attract Texas Investors.

Enforcement Orders

The Texas State Securities Board was the first state securities regulator to enter an enforcement order against a cryptocurrency firm and to date the Securities Commissioner has entered 17 orders, the most of any state. Click on the company name to read the news release on the action and the order itself.

2017

Dec. 20: USI-Tech Limited

2018

Jan. 4: BitConnect

Jan. 24: R2B Coin

Feb. 3: DavorCoin

Feb.15: Investors in Crypto LLC

March 5: LeadInvest

April 5: Financial Freedom Club Inc., 911MoneyStore Inc., Capital Cash, Estrada Trucking Inc., Caleb Estrada Vasquez, Mark J. Moncher,  Frank Dalotto

May 8: Bitcoin Trading & Cloud Mining Ltd.

May 8: Forex EA & Bitcoin Investment LLC

May 15: Wind Wide Coin Inc.

June 11: Mintage Mining, Symatri LLC, NUI Social, Wyatt McCullough, William Douglas Whesell

Sept. 18: Coins Miner Investment Ltd. AKA Coins Miner and Ana Julia Lara

Sept. 18: DGBK Ltd. AKA DigitalBank, Tim Weiss, Ranka Romic, and Kim Joseph Manning

Sept. 18: Ultimate Assets LLC, Daniel Dishmon, John Jason Woodard

Nov. 6: AWS Mining PTY Ltd, MyCoinDeal, West Texas Oilfield Cloud Miners Club, et al.

Nov. 6: EXY Crypto, Morgan Nolan, Rafael Logan, Melissa Spring

Nov. 27: My Crypto Mine and Mark Steven Royer