US SEC Traces $3.5M Back To Alleged Fraudster Behind Fake Crypto Mine
Cointelegraph By Benjamin Pirus's original article for cointelegraph.com reduced by 76%
The SEC has pressed charges of fraud against Donald Blakstad, crypto mining outfit Energy Sources International Corporation and vehicle part company Xact Holdings Corporation, according to a Jan. 8 document from the commission. The alleged fraudster used ESI, Xact holdings and energy company Midcontinental Petroleum, Inc.
as part of his operation, shilling falsified information to lure investors into participation, the document also noted. Not his first offenseThe SEC also charged Blakstad with accounts of insider trading in 2019, as detailed in a July 10 statement from the commission.
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