Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order Dec. 20 against USI-Tech Limited, an overseas firm that is promising low-risk, triple-digit returns from investments tied to Bitcoin mining.
The enforcement staff of the State Securities Board presented evidence to the Securities Commissioner that USI-Tech, based in Dubai, and two U.S.-based sales agents are soliciting investors in dozens of Texas cities through targeted craigslist advertisements, YouTube videos, and standalone websites.
Neither USI-Tech nor the sales agents, Clifford Thomas of Suitland, Md., and Michael Rivera of Los Angeles, are registered to sell securities in Texas. The investment also is not registered in Texas.
https://www.ssb.texas.gov/news-publications/bitcoin-promoter-usi-tech-hit-emergency-order
REALIST NEWS - USI-Tech Hit With Emergency CEASE & DESIST Order (I tried to warn you!)
I wonder when Bitconnect will follow the same fate. Stupid crypto ponzis...
Thanks for keeping us updated and aware.
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Thanks for posting this budz82! People should be made aware of those scams, unfortunately YouTube is still full of this crap 😠
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People should have known not to touch USI-Tech after they were caught running around the Genesis mining facility in Iceland promoting it as if they have a partnership with them. When a user on Twitter questioned this "relationship" between USI-Tech and Genesis Mining, Genesis came out saying that they had no relationship with USI-Tech and had no idea why that video of USI-Tech standing in their facility with their logos/signs up even came from and were quite concerned with the misleading practices that USI-Tech was doing. Add ontop of that, that whenever they have a meetup with investors they threaten that if any of the people film or diclose any of the info discussed that USI-Tech would shut down their accounts, which allowed them to talk a bunch of bullshit to their investors live without it ever being filmed/released to the public to call them out on their nonsense.
So much shady shit going on with some of these crypto companies (especially the ones built on referrals/affiliates that do loaning with promises of daily payouts).
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JUST HAPPENED
https://steemit.com/bitconnect/@transisto/texas-state-securities-serves-bitconnect-an-emergency-cease-and-desist-order
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