These fraudulent schemes operate under several different names and websites, including Crypto FX Direct, Shield Investors LTD, Quartz FX Trade, and FinVest Trading.
BOISE, Idaho — The Idaho Department of Finance is warning the public about a series of fraudulent cryptocurrency schemes that have been targeting Idaho investors.
The online cryptocurrency investment companies purport to provide investors with high returns with no risks. These fraudulent schemes operate under several different names and websites, including Crypto FX Direct. Shield Investors LTD, Quartz FX Trade, and FinVest Trading.
In reality, they are offering and selling fraudulent securities to Idaho investors.
The websites are reported to have made outrageous, demonstrably false statements and claims, including guaranteeing returns on investments as high as 65% – 80% every 24 hours. They offered these profitable investments with any plans, claiming the more money invested, the larger the return.
Idaho investors were given phony credentials by the company’s investment advisor to try and legitimize both the companies and their representatives. Idahoans were then asked to pay the investment advisor with cryptocurrency in exchange for one of the trading programs offered on the site.
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