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Texas Judge Fines Trendon Shavers & Bitcoin Savings & Trust $40 Million

Texas Judge Fines Trendon Shavers & Bitcoin Savings & Trust $40 Million

Texas Judge Fines Trendon Shavers & Bitcoin Savings & Trust $40 Million 150 150 Rex Securities Law

Sherman, Texas

U.S. Magistrate Judge Amos L. Mazzant found that Trendon T. Shavers and Bitcoin Savings and Trust violated federal securities laws by selling bitcoin-denominated  investments through the internet, while using Bitcoin from new investors to make purported interest payments on outstanding investments.

Using internet forums, Shavers created the illusion that he was legitimately trading BItcoin when, according to the court, he was operating a Ponzi scheme. The $40 million fine was assessed against Shavers and his  company Bitcoin Savings and Trust.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.  Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

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