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Government agency cautions about the use of cryptocurrencies, saying they’re more likely to be used by “fraudsters to perpetrate fraudulent investment schemes.”
"Fraudsters are not beyond the reach of the SEC just because they use...virtual currency to mislead investors and violate federal securities laws," the SEC says, as it files charges against a Texas man.
Raymond Bitar, founder of Full Tilt Poker, was arrested at JFK Airport and charged with siphoning $430 million in gamblers' winnings.
Company says it doesn't believe that any "reasonable interpretation" of its business would make it a Ponzi scheme, according to The Wall Street Journal.
The U.S. Justice Department accusing Full Tilt Poker of being a "global Ponzi scheme" is the latest example of large online concerns being accused of being mega-Madoffs. Does the Web make Ponzis easier to manage?
If you want to run your own Ponzi scheme, we have the game for you. MadeOff, to be released next week, will let you steal all your friends' points.
The virtual currency gains a measure of legitimacy in the prosecution of a man accused of running a Bitcoin-inspired Ponzi scheme.
The Justice Department claims the Web site is a Ponzi scheme that paid out celebrity players Howard Lederer and Christopher Ferguson.
Federal regulator finds the cryptocurrency qualifies as "money or something of value" but imposes restriction on its use.
Several exchanges, including shuttered Mt. Gox, have received subpoenas probing possible ties to the online drug marketplace, the Wall Street Journal reports.