ponzischeme
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Bitcoin Ponzi scheme operator pleads guilty to fraud
Digital currencies like bitcoin are still marking many firsts, and that unfortunately includes the first crimes. Case in point: Trendon Shavers has pleaded guilty to the first-ever US securities fraud charges involving bitcoin. The Texan was accused of operating a Ponzi scheme that swiped more than $4.5 million from investors. He promised enormous returns on investment (a whopping 3,641 percent per year) to those who helped fund a stock market campaign, but was really using the money from newer customers to pay existing ones. To no one's surprise, this deception didn't last long. Nearly half (48) of the 100 investors suffered losses, and Shavers even used $147,000 of their funds to buy himself luxuries like a BMW M5 sedan.
iPad case helps you get into Bernie Madoff's pants
You know the old saying about not judging a man until you walk a mile in his shoes? Well, those who were quick to pass judgement on Bernie Madoff might want to try John Vaccaro's new iPad cases on for size. The pockets are made from the Ponzi scheme mastermind's pants, which were seized after his arrest. Vaccaro bought them up at auction and has begun making custom cases for the Apple tablet. At $350 each, they don't come cheap, but you do get a certificate of authenticity -- but with Madoff's name attached, how could you possibly go wrong?
