Texas Regulator Banned Two Cryptocurrency Schemes

Texas Securities Board Commissioner Travis J. Iles has issued a restraining order on Forex Birds and the Pek Universe run by Eric Darwin Balusek.

Investors in both schemes were promised “one hundred percent profit”. The organizers of Pek Universe promised those who invest at least $ 500 a profit of 1.4% in 10 days and an affiliate commission of 5%. In addition, the company offered “the services of the world’s best expert traders for the platform.”

Forex Birds promised investors that they will earn 50% of their investment in one day. The company has stated that it is registered with both the European and Australian Securities and Investment Commissions. Citibank, UBS and Barclays were cited by the firm as liquidity providers.

“The organizers of the schemes have made proposals containing statements that are misleading,” Isles said in the restraining order .

According to the order, Balusek must shut down two websites that promise high returns on cryptocurrency investments with little or no risk, or face fines of up to $ 10,000 and / or two to ten years in prison. The order does not mention the income received by the operator of the scheme.

The Texas Securities Board has already shut down suspicious cryptocurrency companies on several occasions and has brought scammers to justice . Earlier this year, the Texas regulator named cryptocurrencies as one of the main threats to investors, and in July banned the Mirror Trading International cryptocurrency scheme.

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