RATE Group | SEC charges hedge fund manager for $30M cryptocurrency fraud scheme
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SEC charges hedge fund manager for $30M cryptocurrency fraud scheme

20 Jan SEC charges hedge fund manager for $30M cryptocurrency fraud scheme

Posted at 16:23h in Cryptocurrency News by

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A convicted hedge-fund manager assumed a fake name and wore a disguise to lure investors into a $30m cryptocurrency fraud in New York. 

According to the the US Securities and Exchange Commission, Boaz Manor, his business associate Edith Pardo, and two companies, CG Blockchain Inc. and BCT Inc. SEZC, have been charged with violating the anti-fraud and securities registration provisions of the federal securities laws.

The group allegedly raised over $30m in a fraudulent ICO, which had the goal of launching hedge funds testing technology to record transactions on blockchain.

Boaz Manor had darkened his hair, grown a beard and was using aliases to hide his identity as he launched his bitcoin business – called CG Blockchain. His disguises were designed to conceal the fact that he had served a year in prison after pleading guilty to criminal charges arising from the collapse of a large Canadian hedge fund.

“Bo” Manor became notorious in Canada for operating a bogus…

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