US SEC Accuses Bitcoin Mining Company VBit Founder of Misappropriating $48.5 Million and Committing Fraud
ChainCatcher news, the U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against VBit Technologies Corp. founder and CEO Danh C. Vo, accusing him of misappropriating approximately $48.5 million in a fraudulent investment scheme. According to SEC documents, Vo and VBit raised over $95.6 million from about 6,400 investors, and falsely described the bitcoin mining business model and the use of funds in their promotions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
U.S. stocks extend gains, Nasdaq up 2%, S&P 500 up 1.4%
US Stocks Extend Gains, Nasdaq Rises 2%
The US SEC issues guidance on broker-dealer crypto asset custody and crypto ATS operations
Spot gold breaks through $4,360 per ounce
