Usfia gemcoin

claims meeting for investors of usfia, steve chen, et al, to be held october 16, 2018 In order to make sure the maximum number of claims are filed, the Receiver will have a meeting open to all investors who need assistance with their claims.

8. Around March 2014, USFIA entered into a new line of business, claiming to have invented and issued a new virtual currency called GemCoin. USFIA claims that GemCoin was a Jul 01, 2015 · Gemcoin is the creation of Arcadia-based companies USFIA Inc., which stands for US Fine Investment Arts, and its parent Alliance Financial Group, or AFG. Both companies are connected to the US-China Consultation Association, which like AFG and USFIA is located in a posh office complex at 135 E. Live Oak Ave. Oct 08, 2015 · Massive GemCoin Lawsuit Reveals Danger of 'Cryptocurrency' A $100 million class action suit filed by the victims of an alleged Ponzi scheme. YouTube / USFIA Currency Fund Another charge against Chen was that he had attempted to transfer $7.5 million out of USFIA’s account at Bank of America (BoA) to a Chinese bank. Later, Arcadia-based Gemcoin was in the news when it was raided by federal authorities on the charges of bilking about $32 million from Chinese and U.S. investors . The main website associated with Gemcoin is listed as “under maintenance”, directing users to USIAF’s website, though another website, InvestGemcoin.com, is still accessible.

09.11.2020 Usfia gemcoin

2021-1-14 · Steve Chen, the Chief Executive Officer (CEO) and mastermind behind the $147 million Gemcoin cryptocurrency scheme, reportedly admitted to wire fraud and … 2020-2-20 · Steve Chen, the mastermind behind the $147 million Gemcoin cryptocurrency scheme, has admitted to wire fraud and tax evasion in a plea agreement. The 62-year-old Southern California resident agreed that he and other co-conspirators fraudulently promoted a cryptocurrency called Gemcoin (or Gem Coins) that helped fleece $147 million from 70,000 victims. 2015-10-2 2021-1-15 · He and other perpetrators duped some 70,000 unsuspecting individuals out of a cool $147 million to invest in USFIA. Californian resident Steve Chen, aged 62, the architect behind the Gemcoin scam has pled guilty in his ongoing prosecution. He was … 2021-1-11 According to the DOJ, Chen launched and promoted U.S. Fine Investment Arts (USFIA), a company based in Arcadia, California. Through an MLM scheme, the company first assigned reward points and then the Gemcoin digital currency to gullible investors.

According to the DOJ, Chen launched and promoted U.S. Fine Investment Arts (USFIA), a company based in Arcadia, California. Through an MLM scheme, the company first assigned reward points and then the Gemcoin digital currency to gullible investors. The company claimed to back the crypto-currency by gemstones which it produced from its mines.

He claimed that USFIA extracted amber and other gemstones from non-existent mines it “owned” in the United States, the Dominican Republic, Argentina and Mex Founder of $147 million GemCoin crypto Ponzi scheme sent to prison for 10 years Steve Chen was the owner and CEO of US Fine Investment Arts, Inc. (USFIA), GemCoin, and six other companies that used the same address. Between 2013 and 2015, Chen fraudulently promoted investments in USFIA through one of his projects, GemCoin. According to the U.S Department of Justice, Steve Chen defrauded tens of thousands of investors of over $147 million in the two years that Gemcoin was in operation.

USFIA claims that GemCoin was a virtual currency "built on top of Bitcoin." However, unlike Bitcoin, USFIA's GemCoin was a centralized virtual currency and its entire supply was created, held and

GemCoin. Inscription. More. GemCoin, Il faut s’y intéresser rapidement. Le GemCoin !

Gemcoin was alleged to be tied to amber mine holdings owned by USFIA, effectively acting as a value-add to precious stones customers believed they would receive. Yet, the SEC went on to argue in Wuo appeared at functions hosted by US Fine Investment Arts (USFIA), the company behind Gemcoin at the center of controversy.

The primary difference between the available investment packages is income potential through the USFIA compensation plan (see above). Gemcoin was alleged to be tied to amber mine holdings owned by USFIA, effectively acting as a value-add to precious stones customers believed they would receive. Yet, the SEC went on to argue in Wuo appeared at functions hosted by US Fine Investment Arts (USFIA), the company behind Gemcoin at the center of controversy. In past statements, he called Gemcoin a “breakthrough in finance”. Usfia Inc - GemCoin.

The 62-year-old Southern California resident agreed that he and other co-conspirators fraudulently promoted a cryptocurrency called Gemcoin (or Gem Coins) that helped fleece $147 million from 70,000 victims. USFIA promoted the fraudulent cryptocurrency called Gemcoin as the future “world currency.” Its founder claimed to have received backing from several prominent mines, including the Amber mines situated in the Dominican Republic. GemCoin is a digital currency distributed and managed by a company named USFIA, Inc. USFIA stands for United States Fine Investment Arts. USFIA was reportedly founded by the “US China Consultation Association.” The company specializes in gem mining and processing and is currently headquartered in Los Angeles, California. In September 2014, the GemCoin crypto scheme mastermind and his co-conspirators started changing their promotions.

156 likes. An attractive investment plan for everyone - GemCoin PM me to know more! 2015-9-11 A South California man, Steve Chen, on February 19, 2020, accepted to have committed wire fraud and tax evasion in a plea agreement. The 62-year-old admitted that he along with a few other conspirators conned 70,000 investors by promoting a fraud cryptocurrency called Gemcoin … 2021-2-5 · Between July 2013 and September 2015, Chen ran a multi level marketing scheme to promote U.S. Fine Investment Arts, Inc. (USFIA) which rewarded investors first with points, and then with Gemcoins. These virtual coins were supposedly backed by gems mined by the company and could be traded on the USFIA platform.

(USFIA), an Arcadia Man behind GemCoin, a fake cryptocurrency, settles lawsuit for $71M Judge: “Defendant has shown no sign of recognition of wrongdoing.” Cyrus Farivar - Mar 14, 2017 7:00 am UTC 2015-10-5 · The pitch from USFIA was that Gemcoin was a newer, better version than Bitcoin. USFIA marketing websites labeled Bitcoin risky due to its categorization as a “decentralized” currency. USFIA France Team . Qui sommes nous? USFIA. GemCoin. Inscription.

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Gemcoin founder Steve Chen appeared in court and pleaded guilty to charges of conspiracy to commit wire fraud charges and tax evasion. He and other perpetrators duped some 70,000 unsuspecting individuals out of a cool $147 million to invest in USFIA.

Feb 19, 2020 · Steve Chen, the CEO of U.S. Fine Investment Arts, Inc. GemCoin, and five other companies that used the same Arcadia office address on Live Oak Bouelvard, has agreed to plead guilty to charges of As part of his plea agreement, Chen admitted to running and promoting U.S. Fine Investment Arts (USFIA), an Arcadia, Calif., company that peddled investors its “Gemcoin” digital currency He claimed that USFIA extracted amber and other gemstones from non-existent mines it “owned” in the United States, the Dominican Republic, Argentina and Mex Founder of $147 million GemCoin crypto Ponzi scheme sent to prison for 10 years According to the reports, the USFIA had claimed that the Gemcoin, which did not exist actually, was backed by gems that were mined by the company, for the trading purpose. Investors were duped into buying USFIA investments in amounts ranging between $1,000 and $30,000 each. However, GemCoin never went global, sparking the first wave of suspicion. It was not until Sept. 22, 2015, before the Securities and Exchange Commission filed a lawsuit against Steve Chen, GemCoin, and a dozen other companies he owned. According to the U.S Department of Justice, Steve Chen defrauded tens of thousands of investors of over $147 million in the two years that Gemcoin was in operation.

As part of his plea agreement, Chen admitted to running and promoting U.S. Fine Investment Arts (USFIA), an Arcadia, Calif., company that peddled investors its “Gemcoin” digital currency

USFIA marketing websites labeled Bitcoin risky due to its categorization as a “decentralized” currency.

The 62-year-old admitted that he along with a few other conspirators conned 70,000 investors by promoting a fraud cryptocurrency called Gemcoin … 2021-2-5 · Between July 2013 and September 2015, Chen ran a multi level marketing scheme to promote U.S. Fine Investment Arts, Inc. (USFIA) which rewarded investors first with points, and then with Gemcoins. These virtual coins were supposedly backed by gems mined by the company and could be traded on the USFIA platform. 2016-5-9 2020-2-20 2015-9-18 Steve Chen, the ringleader behind the $100 million-plus Gemcoin fraud of 2013-2015, agreed to plead guilty Wednesday to tax evasion and conspiracy to commit wire fraud. (USFIA), an Arcadia Man behind GemCoin, a fake cryptocurrency, settles lawsuit for $71M Judge: “Defendant has shown no sign of recognition of wrongdoing.” Cyrus Farivar - Mar 14, 2017 7:00 am UTC 2015-10-5 · The pitch from USFIA was that Gemcoin was a newer, better version than Bitcoin.