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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… https://t.co/GgqZtUePBC
ICYMI: SEC files lawsuit against Geosyn Mining & co-founders for alleged $5.6M fraud scheme! Learn about the accusations & deceptive practices outlined in the legal action: ↓ https://t.co/lK2R0dvvUD
UPDATE: The SEC charges Geosyn Mining & its founders with fraud, alleging misuse of investor funds on lavish personal expenses & false financial claims. More details…↓ #Bitcoin (By: @ComposableD) https://t.co/lK2R0dvvUD
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Texas-based Bitcoin mining firm Geosyn Mining, LLC, and its co-founders, Caleb Ward and Jeremy McNutt, for conducting an unregistered and fraudulent securities offering. The SEC accuses the company of defrauding investors out of $5.6 million through deceptive practices, including misappropriating $1.2 million for personal luxuries, providing false operational capabilities, and supplying misleading mining data about the number of ASICs it operated. The lawsuit was filed in federal court.
