Tag: Gemcoin

Top 4 Worst People in Cryptocurrency History

Ever wonder where the ill feelings people have toward bitcoin and other cryptocurrencies come from? Besides it being new, bitcoin seemed to develop a well-known reputation for being associated with scams and money loss, seeing as there always someone being scammed out of their coins all the time. Once in a while though, it happens on a much grander scale. Here’s the Top 4 Worst People in Cryptocurrency History. 1. …
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Further Details Uncovered in $32 Million Gemcoin Ponzi Scheme

In October of last year, the SEC filed suit against Gemcoin and its parent companies Alliance Finance Group (AFG) and its domestic subsidiary, United States Fine Investment Arts (USFIA). At the time, the SEC’s complaint accused Steve Chen, Founder of Gemcoin, of running a $32 million dollar Ponzi scheme. Gemcoin’s promotional material claimed that the digital currency was backed by billions of dollars in amber mine assets located in South …
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