Latest topics
» AnnaV Rietz, Are U Still In There Girl?
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyToday at 3:48 pm by topspin2

» MAX IGAN - Most People Have No Idea What's Happening
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyToday at 10:59 am by PurpleSkyz

» FREE Electricity - Calling All Mayors - Michael Tellinger
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyToday at 10:57 am by PurpleSkyz

» UFO News ~ Large stationary Triangle shaped craft spotted in Akron, Ohio plus MORE
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyToday at 8:50 am by PurpleSkyz

» Dr. Shiva: We Are at War. #FireFauci. End the Shutdown.
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyToday at 8:46 am by PurpleSkyz

» Comet ATLAS Might Be Fragmenting Or It's JUST 'Taking A Breather' Before Another Outburst
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyToday at 8:42 am by PurpleSkyz

» ‘Reputation Managers’ Are Scrubbing Clinton-Epstein Connection from Wikipedia
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyToday at 8:39 am by PurpleSkyz

» The Hunger Games Society - Crashing The Economy By Design - David Icke
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyToday at 8:36 am by PurpleSkyz

» COVID19 UPDATES - Donald Trump Says The Coronavirus Was “Artificially Induced” plus MORE
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyToday at 8:29 am by PurpleSkyz

» Italians Take to the Streets to Protest New Mandatory Vaccination Law
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyToday at 8:20 am by PurpleSkyz

» FULL (of it) Benjamin blablabla Fulford 4-6-20… “Global System Collapse and Mass Arrests Proceeding; Reset Inevitable”
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyToday at 8:06 am by PurpleSkyz

» #QTard Drama Theater - Why Would THEY Want To Cause MASS HYSTERIA? plus more
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyToday at 8:01 am by PurpleSkyz

» POOPness for APR 8: MIDWEEK ZAP CRAP
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyYesterday at 10:13 pm by PurpleSkyz

» Dave Schmidt (Meta 1 Coin) Doesn't Like Some Folks Putting Him On Their Radar! Wonder Why?
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyYesterday at 10:42 am by PurpleSkyz

» COVID19 UPDATES - WHY ARE SO MANY PEOPLE THAT HAVE “RECOVERED” FROM THE CORONAVIRUS TESTING POSITIVE AGAIN? plus MORE
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam EmptyYesterday at 10:33 am by PurpleSkyz





***********

CLICK THE SUBSCRIBE BUTTON BELOW TO RECEIVE OUR DAILY NEWSLETTER

A 2ND EMAIL COMPLETES THE ACTIVATION PROCESS




CLICK THE PURPLE BUTTON TO VIEW OUR LATEST POSTS







You are not connected. Please login or register

OUT OF MIND » NEW CAGE WOO SLINGERS, UFO & DINARIAN FRAUDS & THOSE THAT BUST THEM OUT! » DAVE SCHMIDT » Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam

Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam

Go down  Message [Page 1 of 1]

RamblerNash

RamblerNash
SEC Emergency Action Stops Digital Asset Scam


Litigation Release No. 24775 /March 20, 2020

Securities and Exchange Commission v. Meta 1 Coin Trust, et al., No. A-20-CV-273-RP (W.D. Tex., filed March 16, 2020)

The Securities and Exchange Commission today announced that it obtained an asset freeze and other emergency relief to halt an ongoing securities fraud perpetrated by a former state senator and two others who bilked investors in and outside the U.S.

The SEC's complaint alleges that Florida residents Robert Dunlap and Nicole Bowdler worked with former Washington state senator David Schmidt to market and sell a purported digital asset called the "Meta 1 Coin" in an unregistered securities offering, conducted through the Meta 1 Coin Trust. The complaint alleges that the defendants made numerous false and misleading statements to potential and actual investors, including claims that the Meta 1 Coin was backed by a $1 billion art collection or $2 billion of gold, and that an accounting firm was auditing the gold assets. The defendants also allegedly told investors that the Meta 1 Coin was risk-free, would never lose value and could return up to 224,923%. According to the complaint, the defendants never distributed the Meta 1 Coins and instead used investor funds to pay personal expenses and to funnel proceeds to two others, Pramana Capital Inc. and Peter K. Shamoun. The complaint alleges that some of the investor funds were used to buy luxury automobiles, including a $215,000 Ferrari. In all, the complaint alleges the defendants raised more than $4.3 million from more than 150 investors in and outside the U.S.

The SEC's complaint, filed in the Western District of Texas (Austin Division) on March 16, 2020, and unsealed on March 20, 2020, charges the Meta 1 Coin Trust, Dunlap, Bowdler, and Schmidt with violating antifraud and securities registration provisions of the federal securities laws. The SEC seeks permanent and conduct-based injunctions, disgorgement of allegedly ill-gotten gains with prejudgment interest, and civil penalties against the defendants. The complaint also charges Pramana and Shamoun as relief defendants and seeks disgorgement of allegedly ill-gotten gains with prejudgment interest.

The SEC's investigation was conducted by Christopher Reynolds and Carol Hahn, and supervised by Jim Etri, B. David Fraser, and Eric Werner. The litigation is being conducted by Jennifer Reece.
The SEC's Office of Investor Education and Advocacy has issued an Investor Bulletin on initial coin offerings and additional information is available on Investor.gov and SEC.gov.


https://www.sec.gov/litigation/litreleases/2020/lr24775.htm

PurpleSkyz

PurpleSkyz
Admin
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam Giphy

WHEW HEW!!! this is wonderful news!!!! Thanks Nash!!!!
Just goes to show you that with patience and determination (this took over 5 years) that we can make a difference in shutting these frauds down!! Thanks to each and every one of you that took the time to report this group to the SEC,  FBI, BBB and PayPal. You are AWESOME! Keep up the great work!

But our work is not done yet by a long shot. Please keep reporting Jerzy Babkowski and the Blue Chicken Cult gang Wilcock & Goode plus so many others!


This is what Robert and Dave have to look forward to!



Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam Aahern1


Prison Mike is waiting for you scammers so good luck!

Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam Tenor

Nicole you just popped out a baby (poor kid) so with luck you just might be able to swing house arrest. Channeling Abe Lincoln will not help you now! lol

Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam Tenor



  

PurpleSkyz

PurpleSkyz
Admin
US SEC Freezes Assets of Alleged Crypto Scam Backed by a Former State Senator


Listen to article


Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam 1480_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8xYTNiOGU2M2MyYzg4NWQ4NWQxN2UyNWNkNDMwOWE3Yy5qcGc=
News
The United States Securities and Exchange Commission (SEC) has frozen the assets of Meta 1 Coin, an alleged crypto scam backed by a former state senator that promised investors returns of up to 224,923% without ever having any actual tokens. 
Per a March 20 announcement from the SEC, the regulator initially froze Meta 1’s assets on March 16 and is charging the firm’s operators with fraud. Currently, the SEC seems to be pursuing fines and disgorgement rather than jailtime for those involved.

Claims of art and gold assets

Meta 1 claimed its tokens were backed, but the cited backing shifted over time, from some $1 billion of rare art to, more recently, $2 billion in gold. 
Meta 1’s LinkedIn page currently reads ““META 1 is a Private Digital Currency backed by humanity's greatest assets. We provide the liquidity of gold.” The SEC’s complaint says “In reality, the Coin is backed by nothing.”

Former state senator and repeat scammer

One of the major backers of Meta 1 named in the complaint is Dave Schmidt, a former Republican Senator for the state of Washington. 
Shady dealings checker Schmidt’s past. He lost a re-election campaign for his seat in Washington in 2006, after which he faced investigation for misspending over $40,000 in campaign funds. 
At least one commentator spotted Schmidt feigning access to vast stores of gold via his website back in 2016 — two years before the SEC says Meta 1 began operations. 

Sky-high promises

The SEC claims Meta 1 managed to raise over $4.3 million since April 2018 by promising investors “exorbitant” returns. According to the complaint: 
“While the particular rate of return constantly varied, it was always exorbitant. For example,
Schmidt and Dunlap represented that each Coin (sold for $22.22 or $44.44, depending on when it was purchased) would be worth up to $50,000—up to a 224,923% return—as a ‘very conservative value.’”
The complaint continues to reject Meta 1’s claims of providing a backed coin: 
“As Defendants knew, or were severely reckless in not knowing, Meta1 owned no significant assets, including either art or gold, so there was no reasonable basis for Defendants to project any investment returns, let alone such exorbitant returns.”

An ongoing scam

The SEC describes Meta 1 as an “ongoing securities fraud.” As of press time Meta 1’s website — which features the central pitch “Empowering Humanity” — was still online. Its Twitter and LinkedIn pages had also been active recently. 
As Cointelegraph reported earlier this month, a whistleblower recently outed a Ukrainian Bitcoin-trading scam that allegedly netted $70 million in 2019 and employed 200 people.

Thanks to Ethel at: http://www.dinardaily.net/t91985-dave-schmidt-and-meta-1-coin-sec-emergency-action-stops-digital-asset-scam#364083



  

PurpleSkyz

PurpleSkyz
Admin



SEC Files Charges Against ex-Senator David Schmidt – Meta 1 Coin

Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam David-hamilton
Published
8 hours ago
 on
March 25, 2020
By
David Hamilton  

Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam David-Shmidt-Meta-1-Coin1
This week, the Securities and Exchange Commission (SEC) continued its ICO crackdown campaign. This time regulators announced charges against former Republican Washington state senator David Schmidt and two other individuals for their roles in the 2018 Meta 1 Coin scam . The fraudulent ICO left investors out of millions. Now the SEC seeks retribution for those who lost.
The SEC filed its complaint in the Western District of Texas on March 16. Regulators also named two other people, Robert Dunlap and Nicole Bowdler in the scam. All individuals face charges for violating antifraud and securities regulations.
Discussing the charges, David Peavler , the SEC’s regional director at the Fort Worth Regional Office stated that these individuals went out of their way to fraud US investors. The regulator went as far as to state they made “audacious claims about the Meta 1 Coin.” He explained that the team said anything to promote the event that left thousands with losses. Lastly, Peavler took a moment to remind investors that they should always act skeptically towards promoters who claim that their investment can’t lose value, or that investors will receive huge returns for minimal participation.

False Statements

The 2018 Meta 1 Coin ICO appeared to be a great opportunity for investors at first. Unfortunately, the developers behind the Meta 1 project had other plans. The group made numerous false and misleading statements. For example, the group promised investors returns of nearly 225,000 percent. On top of this outlandish claim, developers told investors the project was risk-free and would never lose value.
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam David-Shmidt-Meta-1-Coin
David Shmidt – Meta 1 Coin
If all of these promises weren’t enough to get you to participate, Meta 1 had other strategies to employ. For example, Meta 1 promoters claimed an art collection valued at $1 billion backed the tokens. Also, the SEC pointed to instances when the group claimed deposits valued at $2 billion backed the tokens. Supposedly, a reputable accounting firm regularly audited these funds. Obviously, none of this was true.

Meta 1 Coins ICO

The Meta ICO raised just over $4.3 million from around 150 investors from across the globe. Unfortunately for Meta 1, many of these investors were from the US. As you would expect, complaints began to roll into the SEC last year after Meta 1 failed to distribute coins to investors.
SEC investigators revealed that Meta 1 spent the funds in question on personal items. Specifically, the proceeds were funneled to a Chicago-based fund, Pramana Capital. Additionally, an individual named Peter Shamoun received some of the ill-gotten funds. Regulators described how the fraudsters spent the funds on their lavish lifestyles. In one instance, in particular, one of the individuals purchased a $215,000 Ferrari.
Now the SEC is seeking civil penalties and permanent injunctions against Schmidt and the other two defendants. As part of the punishment, the SEC wants Meta 1 to cease-and-desist operations. Additionally, the company must refund all ICO investors. This refund includes any funds sent to Pramana Capital and Shamoun.

DYOR

This story is another case of uninformed investors caught in the blockchain hype. Hopefully, the SEC is able to reunite these investors with their lost funds. For now, Shmidt and his companions face an uphill battle against the SEC in the coming months.

https://www.securities.io/sec-files-charges-against-ex-senator-david-schmidt-meta-1-coin/


Thanks to Ethel at: http://www.dinardaily.net/t91985-dave-schmidt-and-meta-1-coin-sec-emergency-action-stops-digital-asset-scam#364083



  

PurpleSkyz

PurpleSkyz
Admin
SEC halts “Meta 1 Coin” scam perpetrated by former state senator

The regulator claims that Robert Dunlap and Nicole Bowdler worked with former Washington state senator David Schmidt to market “Meta 1 Coin” in an unregistered securities offering.
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam Computer_glass_code
The United States Securities and Exchange Commission (SEC) has managed to secure an asset freeze order and other emergency relief to stop an ongoing securities fraud  perpetrated by Florida residents Robert Dunlap and Nicole Bowdler, as well as former Washington state senator David Schmidt.
The SEC’s complaint alleges that the defendants marketed and sold a purported digital asset called the “Meta 1 Coin” in an unregistered securities offering conducted through the Meta 1 Coin Trust.
The complaint says that the defendants made numerous false and misleading statements to potential and actual investors, including claims that the Meta 1 Coin was backed by a $1 billion art collection or $2 billion of gold, and that an accounting firm was auditing the gold assets. The defendants also allegedly told investors that the Meta 1 Coin was risk-free, would never lose value and could return up to 224,923%. According to the complaint, the defendants never distributed the Meta 1 Coins and instead used investor funds to pay personal expenses and funnel proceeds to two others, Pramana Capital Inc. and Peter K. Shamoun.
According to the complaint, the defendants raised more than $4.3 million from more than 150 investors in and outside the United States.
The SEC’s complaint, filed in the Western District of Texas (Austin Division) on March 16, 2020, and unsealed on March 20, 2020, charges the Meta 1 Coin Trust, Dunlap, Bowdler, and Schmidt with violating antifraud and securities registration provisions of the federal securities laws.
In this action, the US regulator seeks permanent and conduct-based injunctions, disgorgement of allegedly ill-gotten gains with prejudgment interest, and civil penalties against the defendants. The complaint also charges Pramana and Shamoun as relief defendants and seeks disgorgement of allegedly ill-gotten gains with prejudgment interest.

https://financefeeds.com/sec-halts-meta-1-coin-scam-perpetrated-former-state-senator/



Thanks to Ethel at: http://www.dinardaily.net/t91985-dave-schmidt-and-meta-1-coin-sec-emergency-action-stops-digital-asset-scam#364083



  

PurpleSkyz

PurpleSkyz
Admin
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam Tick+tock



  

PurpleSkyz

PurpleSkyz
Admin
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam 1292150244 bump



  

PurpleSkyz

PurpleSkyz
Admin
Dave Schmidt And Meta 1 Coin - SEC Emergency Action Stops Digital Asset Scam Tick+tock



  

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum