Bitcoin Firm Chief Pleads to First-of-Its-Kind Ponzi Scam

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  • Texas man claimed to make virtual currency-based investments
  • Shavers once held about 7 percent of bitcoins in circulation

A Texas man pleaded guilty to defrauding people out of $4.5 million in what the U.S. said was a first-of-its-kind Ponzi scheme involving investments in the virtual currency bitcoin.

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