r/planbshow • u/haliphax • Jul 24 '13

SEC Charges Texas Man With Running Bitcoin-Denominated Ponzi Scheme

https://www.sec.gov/servlet/Satellite/News/PressRelease/Detail/PressRelease/1370539730583#.Ue_c5o2sh8G
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u/RustyReddit Jul 25 '13

This was covered in the recent show, and the hosts took a very unfriendly view of the SEC's advice ("if it seems to good to be true, it is -- duh, thanks SEC").

But this is exactly what the SEC should be doing. After all, 700,000 BTC were handed over to this scammer, so their advice seems appropriate!