![Bitcoin Accepted Here [by freeborn]](https://i0.wp.com/farm6.static.flickr.com/5315/5897030158_49659b54ef_m.jpg "Bitcoin Accepted Here [by freeborn]")
THIS STORY IS NOT FROM THE HACK GURUS IN THE DINAR COMMUNITY – BUT IT MIGHT AS WELL HAVE BEEN!!!
JUST REPLACE “BIT COIN” WITH “IQD” AND IT SHOULD BE ANOTHER EXCELLENT EXAMPLE OF HOW EASILY “SMART” PEOPLE GET SCAMMED!!!
~ #MrIQD
EXCERPT FROM WIRED.COM
On Tuesday, the Securities and Exchange Commission (SEC) charged Trendon Shavers, a.k.a. Pirateat40, with operating a 700,000 Bitcoin Ponzi scheme. At today’s prices that would represent more than $65 million, but the company that Shavers operated — Bitcoin Savings and Trust — went belly up a year ago. Back then, the Bitcoins would have been worth about $5 million.
According to the SEC, Shavers, 30, managed to get 700,467 Bitcoins from investors by posting on discussion forums and offering an astounding return on investment — 1 percent per day. He said that he grossed over 10 percent per week by trading Bitcoins with “groups of people that want to be off the radar, buy large quantities, and instant availability.”
FULL ARTICLE’S LINK: http://www.wired.com/wiredenterprise/2013/07/sec-says-man-named-the-pirate-was-running-bitcoin-ponzi-scheme/
