Texas Federal Court court fines two Americans in Bitcoin soliciting Scam |

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According to the latest report, the federal court of Texas has fined two American individuals for running a fraudulent operation involving Bitcoin.

As per the report, from the mid of January 2017 to September 2018 Kim Hecroft and Morgan Hunt were impersonation the Commodity Futures Trading Commission (CFTC) and soliciting the Bitcoin by convincing them through emails and Facebook to send them Bitcoin for investment projects. Afterward, they informed their clients that they would not be able to withdraw their profits from the investment without paying the taxes to CFTF, in spite of the fact that the CFTF is not responsible for collecting taxes. Moreover, a false document supposedly written by General Counsel of CFT was also sent by these individuals.

The court has granted motion against these individuals for impersonation of CFTF, provision of false account statements and, sending fake documents supposedly written by the General Counsel of CFTF with an image of the official seal of the institution. These two individuals are to pay a monetary penalty of $180,000 each. Moreover, they have been banned from trading permanently.

The Director of Enforcement of CFTF James McDonald stated that repeated warnings had been issued by CFTF to retail customers regarding the trading and purchasing of digital currencies on an unknown Internet website and various platforms of social media. The CFTC has reiterated that the institution has nothing to do with tax collection.

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