Texas regulators have knocked down another company it found it was involved in a crypto scheme to rip off the unaware investors.
Among other alleged mistakes, Houston-based Wind Wide Coin is said to have created customer profiles with pictures of celebrities such as actress Jennifer Aniston, Prince Charles and former Finnish Prime Minister Matti Vanhanen to draw attention to their products.
Wind Wide Coin was “illegally, deceptively and fraudulently offering investments” in Texas, said Joseph Rotunda, director of enforcement at the Texas State Securities Board.
The order concludes that the company must instantly stop unregistered securities sales and fraud in Texas.
“Today’s action is a reminder that, step by step and case by case, we’ve been uncovering a virtual playbook of tactics employed by promoters of illegal and fraudulent cryptocurrency investment programs,” Rotunda said.
Earlier in the year, for example, the Enforcement Division discovered that LeadInvest used a photograph of Supreme Court Justice Ruth Bader Ginsburg to deceive their customers and posed this image to boast the credentials of its legal team.
Another a pretty wild case: A cryptocurrency startup named Miroskii which used a stock photo of Hollywood actor Ryan Gosling for the headshot of their lead graphic designer has managed to raise almost a million in an initial coin offering (ICO).
The company has yet to share its white paper with its investors. Its website reads that the company will offer users their “own decentralized bank” with support for credit and debit card providers like Visa, Mastercard, and American Express, but its white paper is still “coming soon.”
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com