Regulations

Texas Regulators Shut Down Crypto Scam, Falsely Using Jennifer Aniston and Prince Charles for Promotion

Aniston Scam

 Texas State Securities Board has eliminated another deceitful outfit from the crypto sphere, as the regulators issued an emergency cease-and-desist order against a crypto company Wind Wide Coin, citing illegal, deceptive and fraudulent behaviour.

Wind Wide Coin boasted of achieving 900% daily profits with an automatic trading bot that exploited inefficiencies and volatility of the crypto markets. Such eye-watering numbers should have already been a sign of potential scam for investors but if that weren’t enough, the fraudsters tried using celebrities to help them gain some sort of credibility.

Claiming that Jennifer Aniston, Prince Charles and former Finnish prime minister Matti Vanhanen were among their clients, Wind Wide Coin curiously changed their names. Thus, in a somewhat ridiculous turn of events, Jennifer Aniston became Kate Jennifer, Prince Charles was given a pseudonym of Mark Robert and Mr. Vanhanen turned into Niinisto Ann. Their photos were followed by falsified testimonials, where they all claim to be satisfied clients of Wind Wide Coin.

The Houston-based company claimed it was a corporation with a business address in the city. Needless to say, this was also a lie, as upon closer inspection, it turned out the company had not even filed with Texas Security of State and hence does not have a permission to conduct business in the state at all. The address, listed in the Wind Wide Coin website, was not only fake but non-existent at all.

The fraudsters used a bunch of epithets, describing their business model, that immediately sound simply too good to be true. According to their website, which has since been closed for “maintenance”, the investment scheme is “100% sure” and clients “cannot lose money” as “there is no risk involved”. Despite not being registered, Wind Wide Coin claimed to be “a company, so your investment is safe.”

When all of this was proven to be a bunch of lies, Wind Wide Coin was given the said order for “illegally, deceptively and fraudulently offering investments” in Texas. The order concludes that the company must immediately cease and desist from selling unregistered securities and conducting fraudulent activities in Texas.

Joseph Rotunda, a director of enforcement at the Texas State Securities Board said that, “Today’s action is a reminder that, step by step and case by case, we’ve been uncovering a virtual playbook of tactics employed by promoters of illegal and fraudulent cryptocurrency investment programs.“

Texan regulators have already successfully fended off several crypto-related scams recently, including such Ponzi schemes as LeadInvest and BTCRUSH that used very similar approach as Wind Wide Coin and tried to benefit from gullible investors.

Image Source: “Flickr”

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