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November 12, 2018

A New Shariya-Compliant Cryptocurrency Surfaces

Digital justice shall be served. A US man was found guilty of running a fraudulent Ponzi scheme involving Litecoin. The upshot is $1.1 million fine and 15 months in prison.

Joseph Kim of Phoenix, Arizona has received a stringent fine to the tune of $1.1 million and sentenced to 15 months incarceration after he was found out to be running a Ponzi scheme involving Litecoin and Bitcoin. The US Commodity Futures Trading Commission has acted swiftly, publishing the report on November 9.

Mr. Kim was found guilty of defrauding his employer, a Chicago-based trading company, which the guilty party led to believe was investing via cryptocurrencies when, in fact, the company was [...]

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