TenX President to Resign due to Lyoness Scandal

Hosp tried to delete all the public data linking him to Lyoness but one “training” video, voiced by Julian was found
10 January 2019   743

Co-founder and president of TenO's ICO startup, Julian Hosp left his post. From now on, the company will be solely managed by CEO Toby Hoenish.

Note that from 2011 to 2015, Julian Hosp was a “member” of the Lyoness financial pyramid. In the company he was engaged in marketing, sales, held lectures for other participants of the company.

Before the ICO of the TenX project, Josp tried to delete all the public data linking him to Lyoness.

According to Breaker, Lyoness is recognized as an illegal fraudulent scheme by the Supreme Court of Switzerland, the Austrian civil court and the Norwegian Gambling Council. About the connection of Josp with the project it became known thanks to the “training” video from Lyoness, allegedly voiced by him.

CEO AriseBank Admitted to Fraud

Now Jared Rice faces up to 120 years in prison, however, confession may reduce this period to 20 years
22 March 2019   107

AriseBank CEO Jared Rice confessed to deceiving investors for $ 4.2 million in cryptocurrency. The plea agreement filed in the federal court of Dallas, Dallas News кузщкеы.

According to the document, Rice promised investors a "guaranteed return" of up to 20% of the invested funds, as well as opening bank accounts insured by the Federal Deposit Insurance Corporation and Visa-related debit and credit cards, although he did not have agreements with these companies.

The $ 4.2 million received from the ICO Rice spent on his girlfriend, lawyers, as well as on hotels, food and trips by Uber.

It is noteworthy that Jared Rice’s plea for cryptocurrency fraud was one of the first of its kind in the United States.

Now Rice faces up to 120 years in prison. However, confession may reduce this period to 20 years. Also, the organizer of the scheme will have to pay damages to deceived investors.

The final verdict on the case will be delivered on July 11.

Jared Rice was arrested in November 2018 on charges of fraud with unregistered securities and fraud using electronic means of communication. In December, the US Securities and Exchange Commission (SEC) obliged him and Stanley Ford, co-founder of AriseBank, to pay about $ 2.7 million as part of the settlement of the charges.