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