The founders of the decentralized digital asset bank, AriseBank have been ordered to pay nearly $2.7 million in fines following an investigation into an ICO fraud and an ultimate ruling by the U.S. Securities and Exchange Commission (SEC) dated December 12.
Jared Rice, the CEO of AriseBank was arrested by the domestic intelligence unit, the Federal Bureau of Investigation (FBI) at the end of November, citing charges of investor fraud, amounting to $4 million. As per the FBI, Rice allegedly told investors that AriseBank could provide, “FDIC-insured accounts and traditional banking services, including Visa-brand credit and debit cards, in addition to cryptocurrency services.”
Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post!
If you believe this is an error, please chat with us in the #cheetah-appeals channel in our discord.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit