Ponzi Operator Sentenced to 18 months | dinbits


Trendon Shavers Ponzi scheme operation, Bitcoin Savings and Trust, has resulted in a sentence of 18 months in prison.

Shavers racked up additional penalties including three years probation $1.2 million in forfeiture and in restitution.

This concluded the saga of Bitcoin Savings and Trust (BCS&T), and entity under investigation in July 2013 that led the the arrest and prosecution of Shavers for defrauding investors. Turned out to be nothing more than a Ponzi scheme enriching Shaver with nearly 100 million dollars USD.

He's extraordinarily lucky since he faced 40 years in prison. Once he gets out however, he'll have his victims to face and that may end up worse unless his camp manages to repay them in full.

Just ask Josh Garza, he's been in hiding for quite some time now.



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Image source: dinbits staff

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