The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Texas-based Bitcoin mining firm Geosyn Mining, LLC, and its co-founders, Caleb Ward and Jeremy McNutt, for conducting an unregistered and fraudulent securities offering. The SEC accuses the company of defrauding investors out of $5.6 million through deceptive practices, including misappropriating $1.2 million for personal luxuries, providing false operational capabilities, and supplying misleading mining data about the number of ASICs it operated. The lawsuit was filed in federal court.
SEC CHARGES GEOSYN MINING WITH $5.6M FRAUD The SEC has filed fraud charges against Geosyn, a Texas-based crypto mining firm, and its co-founders, Caleb Ward and Jeremy McNutt, for allegedly defrauding investors of $5.6M. The complaint details that the company misrepresented its… https://t.co/GgqZtUePBC
ICYMI: SEC files lawsuit against Geosyn Mining & co-founders for alleged $5.6M fraud scheme! Learn about the accusations & deceptive practices outlined in the legal action: ↓ https://t.co/lK2R0dvvUD
UPDATE: The SEC charges Geosyn Mining & its founders with fraud, alleging misuse of investor funds on lavish personal expenses & false financial claims. More details…↓ #Bitcoin (By: @ComposableD) https://t.co/lK2R0dvvUD
NEW: 🇺🇸 SEC files a lawsuit against #Bitcoin ⛏️ miner Geosyn Mining, accusing the company of defrauding its customers of 💵 $5.6M by lying about the number of ASICs it operated and using investors' money for personal expenses. https://t.co/8vUHkTbrck
The Securities and Exchange Commission filed charges against Geosyn Mining, LLC, a Texas-based crypto asset mining and hosting company, and its co-founders, Caleb Ward and Jeremy McNutt, for engaging in an unregistered and fraudulent securities offering. https://t.co/12mjWcj1NA https://t.co/FAOqzKEges
SEC charges Texas mining firm and co-founders for $5.6 million fraud scheme https://t.co/kpWAxVrL7T
The SEC is suing a Bitcoin mining company Geosyn, alleging that the firm engaged in an unregistered securities offering, raising over $5.6 million through deceptive practices https://t.co/1q4Ig1RomM
🚨 The #SEC has sued #Bitcoin mining firm #Geosyn and its co-founders, alleging a $5.6 million fraud. Accusations include: 🔶 Misappropriating $1.2 million for personal luxuries 🔸 Misleading about operational capabilities 🔶 Providing false mining data to investors
US SEC SUES GEOSYN MINING FOR $5.6 MILLION FRAUD: WHAT WE KNOW - The US Securities and Exchange Commission (SEC) has initiated a lawsuit against Geosyn Mining and its co-founders, accusing them of defrauding investors out of $5.6 million. - The lawsuit, filed in a federal court… https://t.co/fQj2cCHuhd https://t.co/JjF5NxIt8h
UPDATE: US SEC SUED GEOSYN MINING, AND ACCUSES COMPANY AND CO-FOUNDERS OF DEFRAUDING INVESTORS OUT OF $5.6 MILLION