The following story was reported by The Utah Investigative Journalism Project in partnership with the Deseret News.
A suspected fraudulent bitcoin mining company may have ensnared several Utah properties, according to documents from a case against the BitClub Network, a company accused by the Department of Justice of defrauding over a thousand investors out of $722 million from 2014 to 2019.
Federal authorities want to seize $22 million from properties in Utah that received investments involved in the alleged BitClub scheme, including $500,000 in Evermore Park, an immersive theme park in Pleasant Grove, $1.6 million in The Grid, another Utah County attraction billed as one of the longest indoor go-kart tracks in the world, and $8.4 million in Kiln, a tech-focused co-working space with offices in Lehi and Salt Lake City.
How did money from a cryptocurrency company being prosecuted in New Jersey get into Utah businesses?
Court documents trace a path of how the investments received by...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...