JUST IN:

⚠️ Scam Alert: Founder of American Bitcoin Academy Accused of $1M Scam ⚠️

In a concerning report from Bloomberg, Brian Sewell, the founder of the American Bitcoin Academy, is alleged to have scammed students out of over $1 million.

Sewell reportedly convinced them to invest in a fictitious hedge fund named the Rockwell Fund, promising investments in cryptocurrencies.

However, instead of initiating the fund, Sewell allegedly converted the investments into Bitcoin, which was subsequently lost due to a wallet hacking incident.

The Securities and Exchange Commission (SEC) has settled a case against Sewell, accusing him of misleading investors with fake monthly account statements and causing a total loss of around $1.2 million for 15 students.

In the settlement, Rockwell Capital and Sewell agreed to pay $1.6 million and over $200,000, respectively.

The SEC underlined its commitment to holding accountable those who exploit attention-grabbing technologies to defraud investors, emphasizing ongoing efforts to combat cryptocurrency-related fraud.

#SEC #Write2Earn #cryptoscams