>>”The CEO of AriseBank, Jared Rice, Sr. has been sentenced to five years in federal prison in a $4 million crypto scheme. The United States Department of Justice (DOJ) announced this in a press release on the 25th of August. Rice is also the inventor of the cryptocurrency AriseCoin. AriseBank is the world’s “first decentralized banking platform” based on the proprietary digital currency AriseCoin.”
This guy honestly just sounds like a scam artist all around.
>>”He also failed to disclose that he’d plead guilty to state felony charges in connection with a prior internet-related business scheme,” the Department of Justice stated.”
He’d obviously used the internet for fraud before. These people delegitimize crypto and as the community, we should hold them in a higher disdain. Not saying we don’t do enough or advocating for anything, just saying that we need to be weary (wary?) of these con artists and crypto is going to be RIFE with them.