#AriseBank

AriseBank Cryptocurrency Scamming CEO Pleads Guilty of Deception in $4M Fraud Case

March 22, 2019 by Tom Nyarunda at Business, Crime, News

The AriseBank CEO, who faced up to 120 years in jail, entered a guilty plea for a count of securities fraud that implicates him for deceiving investors of AriseBank when he was at its helm. This according to a recent report from Dallas News. Confessed To His Wrongdoing Jared Rice,...

ICO Scam: AriseBank and its Founders to Refund Investors $2.7 Million

December 15, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Blockchain, Crime, Finance, News, Platform, Tech

The United States Securities and Exchange Commission (SEC) has won a prolonged court battle against the AriseBank blockchain project which organized a fraudulent initial coin offering (ICO) that claimed to had raised $600 million from investors last year. Now, authorities have ordered the founders of the project to pay investors...

Dallas: Crypto Firm Arrested by FBI for $4 Million Fraud

November 30, 2018 by Aisshwarya Tiwari at Altcoins, Bitcoin, Business, Crime, Finance, News, Platform

The FBI has arrested the CEO of Dallas-based AriseBank on November 28, 2018, reports Dallas News. The arrest was made after allegations of company CEO, Jared Rice Sr. duping hundreds of investors out of more than $4 million. Reportedly, Rice had tricked the investors into a ponzi cryptocurrency scheme, promising...