Cryptocurrency scheme promising 'guaranteed, no-risk returns' targeted by Texas regulators
The Texas State Securities Board issued an emergency order this week warning Texans about a cryptocurrency scheme that promises “guaranteed, no-risk returns” of between 10 and 20 percent a month.
Mark Steven Royer of Del Mar, Calif., has been soliciting investments from Texans and others for a cryptocurrency trading and mining program known as My Crypto Mine without disclosing key information about the risks involved, the agency said in an order issued Wednesday.
The agency said the marketing of the scheme on Facebook and the company's website contains statements that are misleading and likely to deceive the public, threatening immediate and irreparable harm to investors.
Royer denied the allegations in a Thursday interview with The Dallas Morning News and said he plans to "vigorously defend against these claims."
Read more: https://www.dallasnews.com/business/business/2018/11/29/cryptocurrency-scheme-promising-guaranteed-no-risk-returns-targeted-texas-regulators
