【mayan massage fertility】FTC Sending More Than $470K to People Duped by My7Network, ‘Bitcoin Funding Team’ Scams
Themayan massage fertility Federal Trade Commission (FTC) said it is sending PayPal payments totaling more than $470,000 to people who lost money to two pyramid schemes involving cryptocurrencies.
According to the FTC
, the defendants promoted Bitcoin Funding Team and My7Network, which falsely promised that participants could earn large sums of money by paying cryptocurrency such as
bitcoin
(BTC) or
litecoin
(LTC) to sign up.
However, Bitcoin Funding Team and My7Network were pyramid schemes that depended on the recruitment of new people to make money. Most of the participants in the schemes failed to recoup their initial investments, the FTC said.
As part of the settlement
, the FTC will send 7,964 refunds through PayPal beginning on Nov. 5. The average refund is about $59.
The more than $470,000 in payments follows agreements by the scheme’s principals who agreed in 2019 to pay more than $500,000 in total under terms of the settlement.
Read more:
FTC Settles With Promoters of Multi-Level Marketing Crypto Scheme
Related Stories
FTC Sending More Than $470K to People Duped by My7Network, ‘Bitcoin Funding Team’ Scams
FTC Sending More Than $470K to People Duped by My7Network, ‘Bitcoin Funding Team’ Scams
FTC Sending More Than $470K to People Duped by My7Network, ‘Bitcoin Funding Team’ Scams
FTC Sending More Than $470K to People Duped by My7Network, ‘Bitcoin Funding Team’ Scams
View comments
相关推荐
- What Is MDU Resources Group's (NYSE:MDU) P/E Ratio After Its Share Price Tanked?
- EMERGING MARKETS-Latam FX attempt comeback, Colombian peso eyes best day in 7 months
- Square Inc (SQ) President, CEO & Chairman Jack Dorsey Sold $20.9 million of Shares
- Teleste's financial reporting and Annual General Meeting in 2021
- Dollar Up Despite Vaccine Approval and Possibility of U.S. Stimulus Measures
- Evotec to Attend Upcoming Investor Conferences
- The Global Cloud Encryption Software Market is expected to grow by $ 2.82 bn during 2020-2024 progressing at a CAGR of 38% during the forecast period
- U.S. Should Cut the Swiss Some Slack on Currency Manipulation