Summary
The founder of the American Bitcoin Academy, Brian Sewell, has been accused by the Securities and Exchange Commission (SEC) of scamming students out of over $1 million. Sewell allegedly convinced students to invest in a fake hedge fund called the Rockwell Fund, which claimed to use artificial intelligence for investing in digital assets. The fraudulent activities occurred between December 2017 and April 2018.
Key Points
1. The founder of the American Bitcoin Academy, Brian Sewell, is accused of scamming students out of over $1 million by convincing them to invest in a fraudulent hedge fund.
2. Sewell allegedly solicited investments for the Rockwell Fund, which claimed to use unique strategies and tools like artificial intelligence to invest in digital assets.
3. The Securities and Exchange Commission has taken action against Sewell, highlighting the importance of regulatory oversight in the cryptocurrency industry.