Businessman Operated Bitcoin Ponzi Scheme, Judge Says (“A Texas federal judge ordered a man who operated a bitcoin-based Ponzi scheme to pay $40.7 million in penalties and disgorgement.”)
Will Bitcoin become the world-wide currency that supersedes all other currencies? It’s certainly hard to tell. But the fact that there are already scams, hoarding, thefts – and now a Ponzi scheme are certainly good indicators that this currency has legs. Indeed, in a surprise result, there was a very positive US Senate hearing centerin on bitcoin. Check out this article. It mixes criminal law and bitcoin. The intersection of the two is a fascinating area. I’ve consulted on a few cases to advise people how to stay out of trouble, but haven’t had one of my own go to court.
If you or someone you know has been charged with a crime involving Bitcoin, contact me. I’m one of the very, very few lawyers that is familiar with this area of law.