AriseBank is a cryptocurrency bank that found itself amidst a $4.2 million ICO scam. The former CEO of the institution pleaded guilty to deceiving investors of around $4.2 million. The information comes from the US news agency Dallas News. Jared Rice Sr. is essentially the founder of AriseBank. What the founder admitted in federal court…
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The Securities and Exchange Commission (SEC) has announced that the federal court has fined AriseBank’s two former execs nearly $2.7 million. Former CEO Jared Rice Sr. and then-COO Stanley Ford were accused of offering and selling unregistered investments in their purported “AriseCoin” cryptocurrency. The allegedly fraudulent initial coin offering (ICO) scheme was stopped by the SEC earlier…
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It is very much a buyer-beware world in the game of ICOs. The U.S. Securities and Exchange Commission (SEC) announced that it has obtained a court order halting an allegedly fraudulent initial coin offering (ICO) that targeted retail investors to fund what it claimed to be the world’s first “decentralized bank.” According to the SEC’s…
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