Texas Court Fines Schemers Nearly $400,000 for Impersonating the CFTC and Fake BTC Mining Gig

In a development in Texas, the federal court has fined two convicts a total of $360,000 USD in respect to solicitation of funds from the public over a fraudulent scheme. The amount raised from the public investors since January 2017 is yet to be revealed.

The U.S Commodities and Futures Trading Commission (CFTC) released a statement earlier on Wednesday July 10th 2019 confirming Morgan Hunt and Kim Hercroft have been fined about $400,000 USD and banned from trading for life after being convicted of Bitcoin (BTC) solicitation fraud. Each of the convicts will pay $180,000 USD in civil monetary penalties and restitution in connection with activities impersonating the commission itself.

The case, decided by a Federal Court in Texas found out that Hunt had been operating as a business…

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