SEC CHARGES GEOSYN MINING WITH $5.6M FRAUD
The SEC has filed fraud charges against Geosyn, a Texas-based crypto mining firm, and its co-founders, Caleb Ward and Jeremy McNutt, for allegedly defrauding investors of $5.6M. The complaint details that the company misrepresented its mining operations and purchases, failing to deliver on promises to over 60 investors. Furthermore, Geosyn is accused of lying about energy costs and contractual terms with electricity providers to attract investment.
Source: The Block
