A man in the US is being sued by the Securities and Exchange Commission (SEC) for allegedly running a fraudulent cryptocurrency mining operation. According to a complaint dated January 8, Donald G. Blakstad swindled more than $3.5 million from investors using three separate companies. The businesses included a vehicle parts holding firm, an oil and gas firm, and “Energy Sources International” (ESI), a purported cryptocurrency mining operation where Blakstad was the only employee. “This matter involves an offering fraud orchestrated by Blakstad in which he raised approximately $3.544 million from at least 14 investors through the fraudulent offer and sale of…
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