1st Canadian official regulatory response to Bitcoin – securities commission issues alert against use of bitcoin highlighting Ponzi and money laundering risks

Securities regulator issues warning over bitcoin ATMs & threatens prosecution Canada issued it’s first official regulatory response to bitcoin today and it came from the Autorité des marchés financiers which issued an alert to consumers about the use of bitcoin. The Autorité, which is Québec’s securities commission, said in a statement that it will prosecute [...]

“If I had been a better lawyer…” Scott Rothstein’s wife and her lawyer sentenced in Ponzi scheme money laundering case

Kim Rothstein, the so-called “free-spending” wife of Scott Rothstein, was sentenced to 18 months in jail yesterday for plotting to hide over $1 million worth of jewelry to avoid it being seized as proceeds of crime. Mr. Rothstein is a former lawyer incarcerated for running a $1.4 billion Ponzi scheme through the trust accounts of [...]

SEC charges Texas man with securities fraud for allegedly running Ponzi scheme involving bitcoin investments

Alleged Ponzi scheme involving bitcoin The U.S. Securities & Exchange Commission announced today that it has charged Texas resident, Trendon Shavers, and an entity he ran called Bitcoin Savings and Trust (“BTCST“), with defrauding investors through the operation of a Ponzi scheme involving bitcoin. Bitcoin is a popular virtual currency. The charges have nothing to [...]

Law firm COO gets 10 year sentence for money laundering in Ponzi scheme

Debra Villegas, former chief operating officer of the now-defunct Fort Lauderdale law firm run by Scott Rothstein, was sentenced to a term of imprisonment of 10 years and ordered to pay US$363 million in restitution today in Florida. Villegas forged signatures on fabricated legal settlements that were sold to wealthy investors. Earlier this year, she pleaded [...]