SEC charges American Bitcoin Academy over $1.2M AI scam
Brian Sewell, through his company American Bitcoin Academy, allegedly defrauded 15 students of $1.2 million by claiming his Rockwell Fund would use AI to generate high returns. The SEC charged that Sewell never launched the fund and lost the investors' money when his Bitcoin wallet was hacked. The case was settled with Sewell agreeing to pay $1.6 million in disgorgement and a $233,229 penalty.
- Date it happened
- 2018-01-01
- Organisation involved
- American Bitcoin Academy
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