US Judge Orders Bitcoin Ponzi Operator Imprisoned for Ignoring Court Order to Pay SEC $40 Million
A district judge has ordered a bitcoin Ponzi operator to be arrested and imprisoned after he ignored multiple court orders and failed to pay the U.S. Securities and Exchange Commission (SEC) $40 million. He pleaded guilty to securities fraud in 2015. Bitcoin Ponzi Operator Faces Imprisonment After Failing to Pay SEC Judge Amos L. Mazzant of the U.S. District Court for the Eastern District of Texas said earlier this week that a bitcoin Ponzi operator will be arrested and imprisoned for civil contempt unless he immediately provides overdue documents and payments, Bloomberg reported. Trendon Shavers, a resident of McKinney, Texas, owes the U.S. Securities and Exchange Commission (SEC) more than $40 million after pleading guilty in September 2015 to one count of securities fraud. However, he has repeatedly disregarded court orders , Judge Mazzant said, adding: Shavers’s flagrant disregard for the court’s orders on multiple occasions leads to only one conclusion: Shavers ...