Texas: Crypto AriseBank CEO Pleads Guilty to Deceiving Investors in $4.2 Million Case
Cointelegraph
Published Mar 21, 2019 11:32AM ET
Updated Mar 21, 2019 11:43AM ET
Texas: Crypto AriseBank CEO Pleads Guilty to Deceiving Investors in $4.2 Million Case
The former CEO of reported cryptocurrency scam AriseBank has pleaded guilty to defrauding victims of over $4.2 million, Texas-based daily news outlet Dallas News reported March 21.
Jared Rice, whom the FBI arrested over securities and wire fraud in November last year, confessed to his activities, according to an announcement by the United States Attorney for the Northern District of Texas, Erin Nealy Cox. Rice had allegedly falsely claimed that AriseBank could offer customers “FDIC-insured accounts and traditional banking services, including Visa-brand credit and debit cards, in addition to cryptocurrency services.”
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Written By: Cointelegraph
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