WASHINGTON, July 23 U.S. securities regulators on Tuesday charged a Texas man with running a Ponzi scheme by offering Bitcoin virtual currency investments over the Internet and pocketing some of the proceeds for personal expenses.
The U.S. Securities and Exchange Commission alleged Trendon Shavers, the founder of Bitcoin Savings and Trust, falsely promised investors up to 7 percent in weekly interest, but instead used much of the funds from new investors to cover withdrawals by other investors.
Separately, the SEC also warned investors against the dangers of potential scams involving virtual currencies like Bitcoin.
UPDATE 1-Corruption charges against Brazil's Temer expected to come in waves -source
June 23 Brazil's top federal prosecutor will level corruption charges against President Michel Temer one at a time instead of making all the accusations at once, a strategy aimed at weakening his defense, a source with direct knowledge of the process told Reuters on Friday.