News Man who held 7% of all Bitcoins arrested for Ponzi scheme - GoFuckYourself.com

AdultKing · 11-06-2014, 05:23 PM

Bitcoin Ponzi Scheme has been taken down.

Quote:

A Texas man who ran a firm that claimed to make virtual currency-based investments was accused of masterminding a $4.5 million Ponzi scheme in what U.S. prosecutors said was a first-of-its-kind case tied to bitcoins.

Trendon Shavers, founder of Bitcoin Savings and Trust, raised at least 764,000 bitcoins by promising investors a return of as much as 3,641 percent, prosecutors said. Instead, he used bitcoins from new investors to cover payments owed to earlier clients, while also tapping into the currency to pay for his own Las Vegas gambling and spa treatments, they said.

At the peak of his scheme in 2011 and 2012, Shavers held about 7 percent of all bitcoins in circulation, they said.

?Shavers managed to combine financial and cyber-fraud into a bitcoin Ponzi scheme that offered absurdly high interest payments and ultimately cheated his investors,? U.S. Attorney Preet Bharara in Manhattan said in a statement today.

more here

http://www.bloomberg.com/news/2014-1...ties-case.html

Dead · 11-06-2014, 07:24 PM

Quote:

Originally Posted by AdultKing

Bitcoin Ponzi Scheme has been taken down.

more here

http://www.bloomberg.com/news/2014-1...ties-case.html

This will not end well i'm afraid, foo; and his money so to speak...

klinton · 11-06-2014, 11:51 PM

Quote:

Originally Posted by AdultKing

while also tapping into the currency to pay for his own Las Vegas gambling and spa treatments, they said.

jscott · 11-07-2014, 12:54 AM

These kind of things will always happen in the life of world with anything of value. Sorry for this fact, whether it be gold, bitcoin, cash, etc., sucks for those investors.

Klen · 11-07-2014, 01:31 AM

Quote:

Originally Posted by jscott

These kind of things will always happen in the life of world with anything of value. Sorry for this fact, whether it be gold, bitcoin, cash, etc., sucks for those investors.

What kind of things?Arrests or ponzi schemes?

jscott · 11-07-2014, 01:37 AM

Quote:

Originally Posted by KlenTelaris

What kind of things?Arrests or ponzi schemes?

Yes, arrests for ponzi schemes for invesments for any kind of things. Whether it be property funds, investment funds, blah blah blah funds, etc

Klen · 11-07-2014, 01:39 AM

Quote:

Originally Posted by jscott

Yes, arrests for ponzi schemes for invesments for any kind of things. Whether it be property funds, investment funds, blah blah blah funds, etc

Aha.But funny thing all bitcoin related arrest happened in usa only,seems people just wont learn.

Emil · 11-07-2014, 01:47 AM

Quote:

Originally Posted by KlenTelaris

Aha.But funny thing all bitcoin related arrest happened in usa only,seems people just wont learn.

In the land of the free the must protect their freedom somehow, what if Bitcoins got out on the streets and started shooting people?

JFK · 11-07-2014, 02:42 AM

Quote:

Originally Posted by jscott

These kind of things will always happen in the life of world with anything of value. Sorry for this fact, whether it be gold, bitcoin, cash, etc., sucks for those investors.

Watch the show "American Greed" sometime, there are hundreds of guys like him out there even thousands. Its all tied to peoples greed, the promise of huge returns on investments. When they get fucked, then they cry, because they lost their life savings, retitrement funds etc. If it sounds too good to be true..............

seeandsee · 11-07-2014, 02:59 AM

who got Bitcoins?

jscott · 11-07-2014, 03:46 AM

Quote:

Originally Posted by JFK

Watch the show "American Greed" sometime, there are hundreds of guys like him out there even thousands. Its all tied to peoples greed, the promise of huge returns on investments. When they get fucked, then they cry, because they lost their life savings, retitrement funds etc. If it sounds too good to be true..............

Exactly!
But people like to find it "newsworthy" because it's this "bitcoin thing", when in fact, it's happening all around you, me, all of us, in all sorts of shapes and forms.

So this is no news to me, this is not even worth reading, what is worth reading? Bernie Madoff, he stole BILLIONS for decades!

Look at Kenneth Lay, the fucking Pres of USA even attended his so called "funeral".

Alex21 · 11-07-2014, 04:11 AM

Was there scammers in the Bible?

Klen · 11-07-2014, 04:35 AM

Quote:

Originally Posted by Alex21

Was there scammers in the Bible?

Well,eden snake was some sort of scammer..Promised divine status if they eat apple,they got kicked out of eden instead.

Alex21 · 11-07-2014, 04:38 AM

Quote:

Originally Posted by KlenTelaris

Well,eden snake was some sort of scammer..Promised divine status if they eat apple,they got kicked out of eden instead.

ofcourse..

Barry-xlovecam · 11-07-2014, 05:10 AM

I am still laughing over the name "Bitcoin Savings and Trust" -- the greedy idiots got themselves scammed.

ilnjscb · 11-07-2014, 08:27 AM

The guy was actually named "Trendon Shavers" - I thought that had to be a joke. Maybe I'll invest with a guy named "Spider McSteal" next time.

woj · 11-07-2014, 08:33 AM

Quote:

Originally Posted by ilnjscb

The guy was actually named "Trendon Shavers" - I thought that had to be a joke. Maybe I'll invest with a guy named "Spider McSteal" next time.

reminds me of the show "the real hustle"... they named themselves:
Ian Steele, Rob Marks and Sue Windle

no one even noticed anything suspicious when "Ian" was running some scam while having "I. Steele" on his name tag...

Horatio Caine · 11-07-2014, 08:41 AM

Trendon Shavers

http://mugshots.com/US-Counties/Texa....66013789.html

PR_Glen · 11-07-2014, 09:07 AM

Quote:

Originally Posted by jscott

Exactly!
But people like to find it "newsworthy" because it's this "bitcoin thing", when in fact, it's happening all around you, me, all of us, in all sorts of shapes and forms.

So this is no news to me, this is not even worth reading, what is worth reading? Bernie Madoff, he stole BILLIONS for decades!

Look at Kenneth Lay, the fucking Pres of USA even attended his so called "funeral".

but definitely worth you coming in here posting all over the place being defensive about the whole thing?

jscott · 11-08-2014, 06:40 AM

Glen there you are, waiting for you to come in here and post your stupid replies

lol

fucking idiot

last click · 11-08-2014, 10:32 AM

nice read thanks

11-07-2014, 02:59 AM	#10
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	who got Bitcoins? __________________ BUY MY SIG - 50$/Year Contact here

11-07-2014, 12:54 AM	#4
jscott So Fucking Banned Industry Role: Join Date: Feb 2001 Location: Taipei Posts: 25,198	These kind of things will always happen in the life of world with anything of value. Sorry for this fact, whether it be gold, bitcoin, cash, etc., sucks for those investors.

11-07-2014, 04:11 AM	#12
Alex21 Confirmed User Industry Role: Join Date: Sep 2014 Posts: 380	Was there scammers in the Bible?

11-07-2014, 05:10 AM	#15
Barry-xlovecam It's 42 Industry Role: Join Date: Jun 2010 Location: Global Posts: 18,083	I am still laughing over the name "Bitcoin Savings and Trust" -- the greedy idiots got themselves scammed.

11-07-2014, 08:27 AM	#16
ilnjscb Confirmed User Industry Role: Join Date: Jun 2009 Posts: 8,842	The guy was actually named "Trendon Shavers" - I thought that had to be a joke. Maybe I'll invest with a guy named "Spider McSteal" next time.

11-07-2014, 08:41 AM	#18
Horatio Caine full-time aspiring rapper Industry Role: Join Date: Aug 2012 Location: Compton, CA Posts: 5,746	Trendon Shavers http://mugshots.com/US-Counties/Texa....66013789.html

11-08-2014, 06:40 AM	#20
jscott So Fucking Banned Industry Role: Join Date: Feb 2001 Location: Taipei Posts: 25,198	Glen there you are, waiting for you to come in here and post your stupid replies lol fucking idiot

11-08-2014, 10:32 AM	#21
last click Confirmed User Industry Role: Join Date: Oct 2014 Posts: 249	nice read thanks