Beware of robber banks (RB), bad advisors.
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Teen's $220m cryptocurrency bid triggers official warnings
An Auckland teen who has raised millions from the public and is seeking hundreds of millions more for an exotic cyptocurrency venture appears to have inflated some of the claims of his website's success by a factor of 10,000 - although he stands by the accuracy of the claims made. Ashutoush Sharma, a 19-year-old former Auckland Grammar student, launched e-commerce site Sell My Good in August. This week he began accepting investor funds, hoping to raise $220 million for his digital currency SMG Cash. Cryptocurrencies - of which the most well-known is BitCoin - are a novel space for investors and regulators alike, but ... (full story)
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Beware of robber banks (RB), bad advisors.