Market Date:23 January, 2021

Alleged bogus cryptocurrency and marijuana trading performance hit by Texas regulator

An alleged false trading procedure offering 8% weekly yields linking cryptocurrency and medical marijuana was struck by a Texas regulator Thursday.

The Texas Securities Board filed a cease and desist order against Mark Moncher for supposedly attempting to sell unregistered securities via his Financial Freedom Club also called Millionaire Mentor University.

 

But hours after the order was issued, www.millionairementoruniversity.com was online. In its order, the Texas regulator claims wording from the site saying its shareholders are getting an 8% return on their cash weekly.

Their money will purchase cryptocurrency which consequently will be loaned to some medical marijuana operatuib at California.

In its own boasts, www.millionairementoruniversity.com says it’s the tools to provide investors fiscal freedom in 30 into 60 to 90 to 120 days.

“Never work hard again,” that the website advertises.

The Board asserted the cryptocurrency trading strategy encouraged shareholders to commit felony offenses in connection with the first $2,000 investment from the trading system.

Investors were told they’d find an “invoice of a product matching your initial payment for your protection,” to hide the genuine usage of their capital according to this cease and desist order.

This merchandise was to get a gold Seiko watch that the shareholders would not get.

The Texas Securities Board accused Moncher of hiding from shareholders that the fact that he was sentenced to 57 weeks in prison 2010 with a federal court in Florida to get a mortgage fraud scheme.

Moncher, that plead guilty to commit wire and mail fraud, was likewise ordered to pay $1.9 million in restitution from defrauded financial institutions.

The Texas State Securities Board is possibly the most active country regulator in combating cryptocurrency fraud.

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