Bitcoin Ponzi scheme results in $2.5M fine to Gelfman Blueprint and CEO Nicholas Gelfman LeapRate

October 18, 2018 BY LeapRate Staff

Bitcoin Ponzi scheme results in $2.5M fine to Gelfman Blueprint and CEO Nicholas Gelfman

The CFTC has announced that a New York federal court has ordered New York corporation Gelfman Blueprint, Inc. (GBI) and its Chief Executive Officer Nicholas Gelfman of Brooklyn, New York, to pay in total over $2.5 million in civil monetary penalties and restitution in what was the first anti-fraud enforcement action involving Bitcoin filed by the CFTC. James McDonald,…

September 19, 2018 BY Valentina Kirilova

MAS warns against fraudulent website soliciting Bitcoin investments

The Monetary Authority of Singapore (MAS) has informed the public that a fraudulent website has been soliciting investments in Bitcoins using fabricated comments attributed to MAS Chairman and Deputy Prime Minister, Tharman Shanmugaratnam. The name of the website is positivebathhour.com / gulfweedcrab.com and the website’s article on Bitcoins is highly deceptive and misleading. The statements attributed to…

August 24, 2018 BY LeapRate Staff

CFTC wins $1M Bitcoin/Litecoin fraud trial against Patrick McDonnell and Coin Drop Markets

The CFTC has announced that a New York federal court entered final judgment ordering Patrick K. McDonnell of Staten Island, New York, and CabbageTech, Corp. d/b/a Coin Drop Markets (CDM), McDonnell’s New York-based company, to pay over $1.1 million in civil monetary penalties and restitution in connection with a lawsuit brought by the Commodity Futures…

February 21, 2018 BY LeapRate Staff

Bitcoin exchange BitFunder and founder Jon Montroll charged with fraud

The SEC alleges that BitFunder and its founder Jon E. Montroll operated BitFunder as an unregistered online securities exchange and defrauded exchange users by misappropriating their bitcoins and failing to disclose a cyberattack on BitFunder’s system that resulted in the theft of more than 6,000 bitcoins.

January 19, 2018 BY LeapRate Staff

Dillon Michael Dean and The Entrepreneurs Headquarters Limited charged in Bitcoin and Binary Options fraud scheme

The U.S. Commodity Futures Trading Commission (CFTC) has announced the filing of a civil enforcement action in the U.S. District Court for the Eastern District of New York against Defendants Dillon Michael Dean of Longmont, Colorado, and his company The Entrepreneurs Headquarters Limited, a UK-registered company. The CFTC Complaint charges Dean and The Entrepreneurs Headquarters with engaging in…

June 30, 2017 BY LeapRate Staff

Fraud charges filed against Bitcoin and Office Co-Working Space entrepreneur Renwick Haddow

The U.S. Securities and Exchange Commission today filed fraud charges against the clandestine founder of a purported Bitcoin platform and a chain of co-working spaces located in former bars and restaurants, alleging that he bilked investors in both companies while hiding his connection given his checkered past with regulators in the U.K. The SEC alleges…

December 01, 2015 BY LeapRate Staff

SEC charges Josh Garza in Bitcoin mining Ponzi scheme fraud

The US Securities and Exchange Commission (SEC) today charged two Bitcoin mining companies and their founder with conducting a Ponzi scheme that used the lure of quick riches from virtual currency to defraud investors. The SEC alleges that Josh Garza perpetrated the fraud through his Connecticut-based companies GAW Miners and ZenMiner by purporting to offer shares…

August 02, 2015 BY LeapRate Staff

Tag: bitcoin fraud