Online Crypto Course Founder Scammed Students With Fake Hedge Fund, SEC Alleges
- Alleged fraud scheme cost 15 students about $1.2 million
- SEC announces settlement with founder of online crypto course
The US Securities and Exchange Commission headquarters in Washington, DC.
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The founder of an online crypto trading course called the American Bitcoin Academy scammed students out of more than $1 million by persuading them to invest in a fake hedge fund, the Securities and Exchange Commission claimed Friday.
From December 2017 through April 2018, Brian Sewell allegedly solicited investments for the Rockwell Fund, which would invest in digital assets using unique strategies and tools such as artificial intelligence.