FBI Arrests AriseBank CEO Over $4 Million Crypto Fraud
The FBI was arrested on charges of fraud for millions of dollars and then the CEO of the cryptocurrency platform AriseBank.
Thirty years ago, Jared Rice Sr. was announced Wednesday by the Texas Northern District Attorney's Office, which has been charged with fraud charges for three securities frauds of more than $ 4 million for hundreds of investors. Three frauds.
Rice lied to prospective investors, claiming she would provide FDIC insurance bank accounts and Visa-linked debit and credit cards in addition to encryption services based on her AriseCoin tokens. .
In fact, AriseBank was not authorized to bank in Texas, did not have FDIC insurance, and had no partnership with Visa.
Rice was also indicted on charges of lending $ 600 million in just a few weeks through the Initial Coin Offering (ICO). He also sent investors money to personally use hotels, food and clothing.
According to a court document released Wednesday after the company's foundation, he began promoting AriseBank and AriseCoin around June 2017. AriseBank and AriseCoin began promoting around 2017 through press releases, public video interviews, social media and websites.
Rice will face a federal prison for 120 years after being convicted, the lawyer's office said.
Erin Nealy Cox, a US attorney in the northern part of Texas, said:
"Our office is trying to enforce the rule of law in a cryptanalytic space, northern Texas will not tolerate this kind of deceptive popularity.
In January, Rice filed a lawsuit against the US Securities and Exchange Commission (SEC) and co-founder Stanley Ford for alleged fraud and unregistered securities issues during ICO. The Texas Department of Banking ordered AriseBank to quit and withdraw the same month.
In February, the SEC complaint filed a lawsuit against Colin County in Texas for allegedly stealing government records and tampering with the government in 2015. He is believed to have corrupted the evidence by stealing the victim's phone after delinquent accusations in Dallas County, Texas, and removing the voice record of the case.
Image of FBI agents via Shutterstock
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