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TexasTowelie

(111,312 posts)
Tue Oct 19, 2021, 08:39 PM Oct 2021

How a Dallas Duo Grifted Cryptocurrency Investors Out of $24 Million in Far-Reaching Scam

In the end, Bruce Bise and Samuel Mendez bilked some 13,000 investors out of about $24 million before pleading guilty to tax evasion earlier this week.

Since 2016, Bise and Mendez billed Bitqyck, a Dallas-based cryptocurrency company, as a way for “those individuals who missed out on bitcoin” to still get rich, according to marketing materials.

Investors were hooked. The pair promised that Bitqy, the name for the cryptocurrency their company traded, came with a one-tenth share in the company’s stock.

Bise and Mendez instead used those funds to buy cars, luxury homes and high-end art. The two retained 100% of the company’s stock.

Read more: https://www.dallasobserver.com/news/dallas-based-crypto-fraud-scammed-13000-out-of-24-million-before-pleading-guilty-to-tax-evasion-12612291

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How a Dallas Duo Grifted Cryptocurrency Investors Out of $24 Million in Far-Reaching Scam (Original Post) TexasTowelie Oct 2021 OP
I will be 77 in a couple of weeks. Codifer Oct 2021 #1

Codifer

(535 posts)
1. I will be 77 in a couple of weeks.
Tue Oct 19, 2021, 09:00 PM
Oct 2021

I have never understood the smoke and mirrors behind "bitcoin". I am not really sure that I want to.

Cotton candy.

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